Guys, I have a confession to make. I’m either addicted to gambling, or I’m stupid, or both, and I’m working really hard on correcting my behavior.

CategoriesOptions Trading

Everyone knows that Chuky has an addictive personality and he gets addicted on a regular basis to: tobacco, nicotine, and other substances; youtube, stock market and other streams of information; as well as behavior such as going to the gym, traveling, or gambling.

Of course, by gambling I mean operating on the stock market normally.

Anyway. Yesterday (Monday) I lost like $4.5K, give or take, and that upset me and made me miserable for the whole day. That day definitely went into the misery log. And I could have avoided the loss with any of the following: not entering a reckless position a week prior in the first place; being a man and executing pre-market transactions instead of stalling; or even waiting just one day (would have been the easiest, by the way).

I think I cause losses with my lack of patience combined with indecisiveness. Yes it is the two of them combined. You would think that it’s either one or another: either acting when no action is desired, or not acting when some action is needed. And of course i catch myself committing both mistakes sequentially, so it’s both. (I think fixing this will be extra tricky because the solution for indecisiveness must not be rushness, and the solution to impatience must not be dullness.)

Anyway, after spending a whole day staring at my primitive market analysis tools, and then spending another day doing the same, I think I came up with a next iteration of the improvements to my strategy. Instead of giving up or toning it down, I will be more aggressive – obviously to recover the losses.

A fundamental principle here is my faith in continuity of the market – I didn’t believe in continuity Monday, and that bit me. Going forward, I’ll try to assume that the market will always be continuous, more or less. So let’s see how it will pan out – I’ll collect performance data for 6 months to come to an evaluation of my new strategy.

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