I started doing 0DTE options (SPY, QQQ, IWM) for a couple weeks with a good degree of success. Losing days were related to psychological self-control. I do not like to risk more than 3% of my account on each trade, so I make appropriate position sizing. BUT there were a few times I doubled down on losing positions instead of cutting it off.
One particular incident today I was scalping IWM puts, I kept doubling down buying more puts until 30% of my account was exposed, which means at least 15% of my account could have been wiped out. I was lucky the trade end up winning but it showed me my own discipline issue. I have been thinking how to better control this problem (i.e. physically locking away 90% of the money).
Any tool and suggestions from those who done similar?