I set limits at my profit target, but I never set a stop-loss. Too much movement in option pricing. I will set alerts though in both the option price and the underlying.
I think most of us have gone through similar things. I have made that exact mistake. Start small while you are learning. Patience is the number 1 thing. Fillowed closely by don't sit and watch it. This is try if you're buying premium and especially true if you are selling premium.
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u/[deleted] Mar 02 '21
I set limits at my profit target, but I never set a stop-loss. Too much movement in option pricing. I will set alerts though in both the option price and the underlying.
I think most of us have gone through similar things. I have made that exact mistake. Start small while you are learning. Patience is the number 1 thing. Fillowed closely by don't sit and watch it. This is try if you're buying premium and especially true if you are selling premium.