Trading with no discipline
A few days ago, I posted an article on developing a trading system just to remind myself of the lessons taught in there.
I did a Bull Put Spread on some oil drillers a week ago and price of crude oil wasn't doing great during those past few weeks as it dropped almost close to $60 per barrel and this directly affected many oil drillers stock. Eg -I did a Oct 65/70 bull put spread on ticker symbol DRQ and the stock price fall thru to $63 and I did nothing to save this trade which is losing at the moment and I hope that the stock price would recover.
The lesson here is that I did not have the discipline enough to follow thru my pre-determine exit like the above trade by buying back the $70 sold leg and hope that price of the stock would recover and this is in fact a mistake to be learnt as a trading system once adopted is to be follow through strictly.

This
is the SAME system that self-made millionaire Brandon Dupsky used
to go from selling "useless" stuff
he found in his basement, to earning $8 MILLION last year
alone on eBay!






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