I think I'll wait for signs of turn around..
and this looks like it..
I'll just wait for a bull candle.
Here's an update..
The trade wins as long as price stays above my stop. Even if it falls some more, it has some room to move.
I like the delta now..
look at this.. i was curious just how much I could get now, if selling the same option that I did earlier (for .60), and it would only fetch .20 right now.. becuase it is delta 6 now, instead of d15 like when I sold it.
see these?
they are the fees for selling my option today. now.. $2.24 is no big deal, but a year of those are what turned my winning in actual trades, into a loss of $400 last year. :(
that's part of the reason I decided I will just let my option expire from now on.. to half the fees I pay to trade.. and this is a big one..
the stupid PDT (pattern day trade) rule states that a trader can only open/close the same trade, 3 times in a 5 day period. (holidays don't count)
that means that if u use all these 3.. it's a big deal.. u can't do any trading for 90 days if u were to break the PDT rule. so, I can open any trade, but closing it (on the same day) uses up one of my allowed trades. Doing so really limits how many times per week that I can trade..
so, I will only manually close a trade if 1. I have to go somewhere and can't manage a trade or 2. there is some big news event coming that could destroy a trade. or 3. I have already won enough profit and just feel like taking the money and running! :P
and there it is. all done.. 60 big ones. :)