To The Moon

Hello fellow tigers! How are you coping with the market pullback so far? [Cool] For me, I have been feeling lucky! [Great] It can feel lonely as a trader, but emotions come and go, so I focus only on my trades. [Serious] With $Tesla Motors(TSLA)$ falling over 2% pre-market, I know it’s time to strike again. Source: TradingView Trade 1 🔴 After falling over 2% pre-market, the market wants to bring back the price up a little. Seeing a bullish momentum, I bought $TSLA 20230825 232.5 CALL$(first green arrow) early in hopes for the price to break 10 min opening range. Unfortunately, the price faces a rejection and went lower till my stop-loss is hit(-7%). What made it worse is the reversal right after my stop-loss is hit. [Spurting] Yes, it hurts emotionally, but as mentioned before, emotions come and go, as a trader I quickly move on and continued my next trade. TSLA 20230825 232.5 CALL Trade 2 🟢 Source: Tiger Brokers Within seconds, I recovered from my emotional pain and bought back in $TSLA 20230825 232.5 CALL$(second green arrow) as the price reverses. This time, I was lucky as the price finally breaks the 10 min opening range I was hoping for. I derisk by selling half at 10% profit and held on for the next move up. Source: Tiger Brokers When I saw a spike in high volume, I sold my other half at around 15% profit. [Miser] Overall, I made small profits today but I live to trade another day yet again and am grateful for what the market has given me. The key lesson learned today is I can be right and stopped out, but that doesn’t makes it a bad trade. Stop-loss is part of my risk management and it is very needed for most traders to succeed. I said most as there are some rare successful traders who trade with no stop-loss, but I personally don’t recommend it. One last thing is do not let the previous trade affect the next trade. Yes, as humans we all feel emotions, especially negative ones when we have lost trade and we often dwell on them. It is very important to understand that you are NOT your negative emotions. Do not attach yourself to those negative feelings. It is impossible to feel no emotions, so if you need help with controlling your emotions, I recommend reading “Master Your Emotions”, a book by Thibaut Meurisse. Ready to learn more about options trading? If you want to be part of my trading journey and learn more about day trading options, feel free to follow me. [Strong] Do note that I'm just sharing my experience, trading options can be extremely volatile and not meant for everyone. Please do not treat this as financial advice. [Observation] Follow @TigerStars @CaptainTiger @MillionaireTiger @TigerPM