Although, I believe I made a better (thought full) trade today, I was still very impatient. I did not stick to my plan of buying only one contract and then waiting for sometime and adding more, instead I bought all at the same time. The bad part about today was that I promised myself yesterday that I will not trade today.. but I could not resist. My initial plan was to wait for a couple of days after buying the 1st contract and see the stock move before adding more contracts.
Over all I think I am looking for a quick turn around here. I get more intense at times when I see the stock moving away from me. I did not use to experience this type of intensity before my loss or the mkt turmoil for the last few weeks.
Today I almost tried to replicate my previous trade. Since that trade ended up being a success I wanted to do something similar.
I bought BIDU calls at a time when the stock has declined $38. My thinking behind this trade is that the stock has declined excessively, the calls have become cheaper as a result. Buying puts at this point could be more expensive as puts have been bought in higher numbers.
There is more opportunity for the stock to go higher then lower at this point.
Now I need to wait and be patient for this trade to work... just the way I did for the last trade. Initially the trade showed a loss then it reversed and moved my way.
In the morning all I want to see is my account value increase every minute otherwise I get upset.