When all around you hear about fortunes being made in Tesla (TSLA), or anything crypto-related, it becomes tough to stick with your knitting basic trading.  The word ”basic” itself has now become a pejorative label for someone who doesn’t know what’s going on.   

Admittedly, I have no idea what’s going on within many pockets of various asset groups; so call me basic. Just don’t call me ”extra,” which is apparently the term for someone who’s overly dramatic.

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Did I do good using those terms, fellow young people? 

I guess the point I want to get across is at this stage of my trading/investing career, I’m not interested in reinventing myself.  I always want to learn and will continue to stay on top of news and trends as best I can. However, I ultimately need to stick to my knitting of finding quality setups and taking my gains and losses as they come and go.  

A recent example of that is an Options360 trade where I took a bullish position in Advanced Micro Devices (AMD) yesterday.  Here was the setup described in the Alert sent to members. 

AMD had blowout earnings last week but the stock responded with a “meh.”

The company is positioned to benefit from autos to the metaverse.

It has now retested the old high reversal around $118ish and today has a nice igniting candle.

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I sent an Alert to buy the 120/124 diagonal call spread for $3.30 debit. 

The stock popped above $127 today, pushing the spread fully in the money.  I sent an alert this morning to close the position for a $4.00 credit, which can be described as a first-class problem for a mere 17.5% overnight gain.  Do I wish I structured the trade differently?  Maybe.  Do I compare it to all the fortunes supposedly being made in TSLA call options and NFTs of bored apes? As much as I love my primate brethren, that is not a place I want to trade.  Look at what happened with the Squid Games tokens, which pumped and dumped “investors” to the tune of $250 million in just three days.  

A key investor trait is the ability to change your mind while not letting it be polluted by the notion that every trade should be a home run.  “Staying power” is crucial.  I’ve felt FOMO (fear of missing out) at various points this year.  But, then I look at my results, with Options360 up some 53% year-to-date.  That’s okay with me.  Maybe you don’t get headlines hitting singles and doubles (rather than home runs). However, if you do it consistently, for a long enough period, you can end up in the Hall of Fame.  

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