For about the past month ive been daytrading spy 0-2dte options. My only other options experience was losing $140 on way otm gopro calls during the squeeze. Watched it vanish in seconds and was scared away for a bit. This account in particular was a small lets see what happens experiment very minor part of my overall port. That said ive very quickly learned quite a few lessons like +$400 days are great but not when you trade vibes instead of information and end up -300 on that same day. That said ive worked on closing up my drawdowns cutting losses sooner but in doing so I feel like i cut my winners way to early because immediately after cutting it tends to continue in my direction. I havent completely blown the account but have come very close a couple times including today. Ive realized most of my losses come from getting into the same position over and over trying to average down but ultimately I sell at 10 tiny losses then my thesis is shown valid and I make 50% back still equaling a loss. Ex. 7 puts purchased throuought the last 30min under the assumption of an overbought fomo that would cool before e.o.d each sold at small losses only for it to do exactly what I was expecting in the final 15 of extended hours post close. I know the biggest thing to improve is my discipline over emotional trades as well as patience to wait for setups not just assuming or wanting to be right,but was curious what some other insights could offer.
