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I've read this whole thread . . . nice to see it kind of come full circle - back to more of a constructive tone. It is very hard to have good "context" when using remote "conversations" via the WEB - so we all need to have a flexible and empathetic attitude when discussing ideas, Pros/Cons, issues, etc.. Good to see that most of us really do want a positive and productive discussion (even if we have to circle around a few times). In addition to your two points above, I'd like to add a third one (with some background): One of the lessons I've learned (and the hard way - as always) is that it is VERY easy to actually get into trades . . . and it is a lot harder to get out of them. This is especially true when things aren't going your way. Most non-professional traders tend to put too much hope and blind optimism into their trades - they don't manage their risk well (getting into and especially getting out of trades). It is easy to be emotionally involved with a trade - and not let it go and move onto the next. Overall trade and risk management is KEY to making money in the equity markets - all of them. I've learned to manage my trades a LOT better due to what I've learned on SO --- and this applies to general stock picks as well as options plays. To me (outside of good entry strategies), it is the most important thing I do. When something isn't working, get out of it, stop doing it, re-group, review your trade logs, seek help, etc.. Don't keep riding a three-legged horse, hoping it turns into a four-legged horse. Also, we have to remind ourselves of the fundamentals --- did we have a good setup/strategy, has anything changed in the overall market or context that requires us to adapt/morph what we do? These last few months have caused me to constantly review/analyze what works FOR ME and what doesn't. In the end, we are all responsible for adapting what we learn on SO to our style of trading - given our time allotments, account size, technology we use, mindset, emotional makeup, etc.. I give @Kim, @Yowster and many others credit for showing their ugly babies, discussing what isn't working - in THIS market and being willing/able to adapt and change. This is key . . . Anyway, too much coffee on a Saturday morning . . . . hope you ALL have a fantastic weekend and a very successful next week in the markets!