MaryPaananen

Thanks @Markuse - you have a great attitude and we all appreciate your contributions to SO . . . hope to see you back soon!

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!

I'm knocking on wood over here . . . have not been assigned as of yet . . . but that dang @Kim seems to be predicting it is not an "IF", but a "WHEN". LOL

From my perspective, I most care about having the best setups possible - given whatever market environment we are in. Obviously we are all in "continuously learning mode" - especially these last few months. As an example, I realized after reading a post by @Kim that I have put too much negative bias into some of my trading decisions - whether getting in or getting out of various trades. Because I believe the market has been acting irrationally as of late, I have not taken part in anywhere enough of the uptrend as I should have. This is a bad practice -- one has to trade the market we are given and not try to MAKE it what we believe it should be. Now, that is easily said and having a bias is a natural human trait - and most of us have learned to trust in our hunches, wisdom, learned experiences, etc . . .but sometime they fail us. Now back to the subject of performance and portfolio sizes. I think the goal of a 10K portfolio is great, but I also wonder how many of us "goose" up the size of our trades to work better in larger portfolios - I do this all the time. What I do think is important is that if there are some really good setups that are a bit on the expensive side - would still like to ponder them. Maybe they go into the "unofficial" bucket . . . or maybe a "Big Kahuna" bucket that is kept separate from the 10K portfolio bucket. I'm not trying to add more work to anybody's plate - more along the line if you see some good viable setups - maybe discuss them and let the SO members know that some are not being taken due to size/cost . . . but they're still valid and here is where you go to see them. Okay, enough out of me . . . seems my "negative bias" is just starting to match the market a bit more . . . I feel like some more "reality" is starting to creep into the market. We shall see!

That would have been a Unicorn if I've ever seen one! LOL

What is the expiration date on the CALLS? If you're saying you could ROLL, then they probably expire this year . . . and if so, unless you roll them, then I don't know how you can't realize the gains in this year as you'd have to exercise them. I'm not a tax expert . . . so don't take my ponderings as gospel by any means! As Kim noted, you could use a couple different methods to hedge - while this may minimize the risk of a downturn, they will all come at a cost if the stock doesn't go down. Normally if I'm trying to protect unrealized profit - I just go ahead and take some (which locks them in). If you're trying to keep the upside open - then hedging is probably the best idea (taxes aside) It seems you're trying to kill two birds with the same stone --- trying to hedge or protect profits as well as push taxes into next year. Those two strategies may not exactly align in a manner that gives you the best of both.

These first three months have been a bit rough - and January started us off with a down month. Also, as the market is different today than most years, we're all having to learn to adapt, evolve and adjust. We owe it to ourselves to try things that have worked, review results, adjust methods, try new things, etc.. It takes time to evolve into the "new normal" . . . and that takes work and closed-loop introspection. I look at my "unrealized gains" related to some of my options plays - and I'm not overjoyed with what I see (larger negative numbers in some areas than I'd like) - but I also know that I'm learning every day and we will get there - whether it is this month, the next, or the one after . . . so I'm very positive about my SO future.

Hey @Kim - no problem in the least. I find that too few people take time to mention the positive things in life, to give praise where it is due - they find it far easier to be a constant critic. I'll stick to the positive side . . . you might say I'm LONG SO. LOL

Thanks Kim . . . I just so happen to be a longtime member of Stock Gumshoe. Travis and crew are good folks and the fact that they encourage folks to comment and ask questions about all sorts of trade related products, services and sites - is a good thing. Given the above post about SO (which really wasn't that negative - just one person's perspective), I decided to go to the thread and see it. I also went ahead and posted why I have joined SO (same time as the other poster), what my goals were in joining SO and my perspectives as such. I'm here to learn, gain experience, contribute and hopefully give value BACK to the SO community . . . and I plan on being here for the long haul. It has been a great experience and I'm far from done (really, just getting started). Thanks @Kim, @Yowster, @TrustyJules, @rasar and to all the others on this site - I'm a newbie, I'm leaning and this is a great place to be a member of.

Fantastic - this group has such talent . . . I have a long ways to go, but am putting the work in. Thanks for all the mentoring guys!

Great News @Kim and @luxmon! I'm new to SO and am truly a newbie to more complex and structured option strategies. I'm very experienced in the world of stocks and futures - have learned the good, bad and ugly of it over the years. So - I'm very happy to be here - am learning a lot and am very impressed with not only HOW Kim has structured this site and various groups, but also with the amount of talent, experience and knowledge that folks bring to the table. This is exactly what I need - and I am doing the work to absorb the education that is available. Good Luck Luxmon!