u/AskAlternative8213

Just a rant. Watched SPX finally on a downward path, took a short entry (at the arrow), and voila, it is now going back again lol.

https://preview.redd.it/bbu59mp7c0uh1.png?width=1394&format=png&auto=webp&s=d625b3839a20588dd9e35ead8404bfc5c1c71042

Can someone please explain why SPX is suddenly creeping up like an a**#ole? Half an hour back it had started dipping as expected, and then complete reversal? What clownery is this?

Disclosure: I am mad because I have a short position.

Yesterday I had long put options on SPX which of course got totally rekt. Waitwd and waited for a reversal, even a little relief, that never came. Got totally rent.

Then anticipated some dump for today. Accordingly, opened a couple of long puts when options trading opened. Held them for about 9 hours through the relentless chop, with every drop pushed up like mad, that was driving me insane. So, closed the positions as soon as there was some green. Made $70 on $2000.

And of course over the next hour it kept dipping, exactly as I had anticipated and hoped for! Would have made $400+ only if held for 30 minutes or so further.

I realise this inability to hold when I was right today stemmed from the fact that I got burned by holding for too long yesterday.

And this keeps repeating. When I close at a loss (or sma gain), it keeps going in my direction. When I hold, it keeps going against me.

Question is, what can be done about this behaviour?

Just watching the SPX chart slowly destroying my puts. How do you cope with such a slow-burn situation with respite in site?

Had CRWD $210 put on my watchlist. It has 10x-d. Of course, missed out yet again. Anyone had better luck and cashed in on CRWD puts today?

I will keep it brief. I keep seeing the advice to cut losers early and let winners run. But how do I achieve that? 99% of the time the price will approach my TP, but reverse before it hits, and then for a long time I keep losses ballooning. Rinse and repeat. Funny thing is it hardly ever reverses back towards my direction. Why is this? Again, what I observe most of the time:

1. When the price moves in my direction, it will do so for a very limited time before aggressively reversing.

2. When the price moves against my direction, it just keeps going and going, sometimes with minor pullbacks, sometimes without any significant pullbacks.

I know directions will eventually switch, but I am trading intraday and so of course can't wait days for the direction to go in my favour.

For context - mostly NSDQ100 index.

How is it possible that I predict the overall daily trend correctly, almost everyday, and yet end up losing all those days trying to day trade?