Bad trade, old bad habits, waited for it to recover and it never did. To the woodshed for me.

I have traded GLW on and off since the early 2000's and it had earnings coming up with some potential good news. I bought a couple months out so the time decay wouldn't be so bad after the news. I was up over $5000 yesterday and this morning at the open it dipped a bit. Since I could not watch the market at my day job, I just sold on strength. I see now it went up another $1500 and probably will keep climbing, but that's OK, I had a 97% profit, I'll take that every day.

Got caught in this trade upside down almost from the first day. Gave it as much time as it needed to get back to positive. Very small profit but green nevertheless. The chart suggests it could keep going higher but I wanted the money back to make better trades. Overall I give myself a grade of D on this trade, but sneaked out a positive trade.

This was negative for most of this trade so when it went positive today I got out with a small profit, but GREEN. It's still going higher but not much, sell into strength. In the past when I stayed in for bigger profits I ended up losing money way too many times so I'm happy with my exit. With it being the expiration month the time decay is much faster increasing my chances to lose money. Now I get my money back to make other trades.

Entered from Tim's chat. I set a stop at $0.68 when it was around $0.70 but after hours it did not get hit on Schwab. Their trading hours are basically 6:00am CT to 7:00pm CT. This morning a few different levels that did not get filled until 6:00am CT at $0.65 so still a small green trade. Nice to learn the hard way about after/pre market stops on a small trade.

Entry comments: Tim Challenge Chat recommendation for a weekend trade. Everything he posted I liked and looking at the chart the Chaikin money flow is almost even and heading higher so money is starting to flow back into the stock. Probably in part to the anticipated earnings next week? It's a bit of a concern with Stochastics and MACD showing overbought so we'll see if the earnings can drive it higher on Monday morning.

Exit comments: I could not get out of the trade Friday after the apparent bad news but it only dropped around $0.20 per share. Unfortunately my day job kept me from watching it get up to a high of around $2.20 Monday morning so I missed that but still got out with a profit so I'm OK with that. Take what I can get with a day job that takes 50-60 hours a week. Green trades are good trades no matter how big or small.

Challenge Chat suggestion

Premarket, just before the open it sure looked like a supernova pattern and it was (I think). I bailed waaaaay too soon but that's OK. The day job gets in the way so just getting the feel with a green trade feels great.

I've traded the Q's for 25 years but this is the first time I tried one of those zero day options. My old strategy was to NEVER hold overnight I decided the high risk in a zero day was OK, I'd be out red or green anyway. It was negative all day until these past 20 minutes. BUT, DAAANG that delta and price sure changes fast compared to an option expiration a couple months out. Now I know if I use that I better have the correct direction.

Closed out too fast at the open due to the overnight drop of a couple bucks. Already higher than the previous day close. But, my day job gets in the way of watching the markets during the day. It's a green trade so a good one.