Looking back, I realized I jumped the gun exiting the position, I was afraid that it would continue to lose value due to volatility, however, by end of day Monday one could have closed the position for about 3% profit.
Mistakes I believe I made:
1) Closed the trade too soon based on current P&L rather than IBM's relative position (we were under the tent)
What I'll do better in the next trade:
1) Keep my cool and follow the basic rules (exit if beyond the expiration b/e on a second time)
Trade's history:
08/24 IBM Calendar *New*
08/25 IBM Calendar
08/26 IBM Calendar - Added 2nd 1/2
08/27 IBM Calendar
08/28 IBM Calendar - Feeling that IBM was heading lower, closed 2x 120 contracts out
08/31 IBM Calendar
09/01 IBM Calendar - Opened the 115 calendar
09/02 IBM Calendar
09/03 IBM Calendar - Trade under water
09/04 IBM Calendar - Sag forming in the middle of the graph
09/08 IBM Calendar - Position losing money, I became skeptical
09/09 IBM Calendar
09/10 Daily Summary - Closed IBM for -6.6% ROI Loss, like I mentioned, I simply became skeptical on the trade and decided to cut it out.
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