Patience is the Virtue

If anything I've learned from my almost two weeks of trading of stock options, it is that patience is really a virtue. Although stock options do not have as long the maturity as stocks themselves, they do require patience. I'm only 1.5 weeks into the trade and getting impatient about the growth of my money. I made 2 mistakes since then by pulling out too early. AZR had a rally today. AFCI had made further dive. So I do have to respect time. Time will tell. I should not be pressured by anyone or anything for the expectation of gaining money in shorter than expected period.

The second thing I've learned is that I should never think of making money. By not thinking of it, I am more aware of the what-if situations. This will help me cut down losses if stocks do not go the way I want. What that translates to is playing small plays like 2-3 contracts at the time. By this way, I can spread out my risk by opening more than just one positions.

Once again, I've placed patience on top of all. Playing stocks should be as easy as putting money in the mutual fund. It can't take me more than 10 minutes every day. I need to reduce the time spent on it and not getting addicted because it is just a sign of impatience.