Made my first few options trades.

first lesson I learned- take profits ASAP! calls went from +100% to -20%.

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F. You’re telling me.

When I started, didn’t take 40% profits and ended up down over 75%. After that, learned that it’s important to set up rules & follow them. 😬

I’d rather lose out on some upside than watch it drill to 0.

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Rules are critical. And never look at winner against the "coulda", "if only I held..."

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Which options did you trade? Would help some of us provide feedback.

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Assuming your premium is sky high (and likely need a dip well below $5). I’d think about taking the L. I had to take some huge ones recently, not fun. Then at least you still have some capital rather than a fat 0.

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How did you learn???

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Use one of the free simulators from the online brokerages or investopedia

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Same. Could’ve been up 60% on puts but didn’t sell after and immediate 5% drop and it climbed back from the depths and now I’m -45%. Lesson learned

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Heck yea!!! I bet first lesson for almost everyone. Been in the same place before. Hahahaha

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