Annoyed I blew the call with those DD puts

While I made money today with my option calls, I lost over half with my option puts. Here is what happened.

I was trying to maintain a spread to cover either way from last Wed market Fed rates announcement. And I went ahead and bought right after the morning gap with the big picture of a spread. But now looking back at the spread a big up signal formed at the end of that day. Look at the candlestick for Dec 14th. Just follow the line right up from the date to its candle on that date:
http://stockcharts.com/h-sc/ui?s=qqq
You can see that its a bottom candle with a long bottom tail and a small body on top...a big up/long signal.
So basically ive been dealing with trying to make that mistake go away and its going to take a few more trades. I have to remember not to look at the big picture and just try to maintain a spread on a news event, and to look at the candle charts. And not to make any trades until the last 15 minutes or so of the day once the candles are pretty much solidified with thier signals for the day.
The only time I want to trade in the morning is to cover a gap fade or to get in and ride the market up or down for the remainder of that day only. That golfer story guy I told you about uses this. He looks at the premarkets early in the morning and if they are up, he buys at the open and holds until just before close and exits everything. If the premarkets are down 15 min before open, he does nothing that day. So I will now trade:

1. After the gap fade in the morning at about 10am cst or so. This trade gets held for the duration of the day and dumped around a half hr or so before close
2. 15 min before close...a purchase to hold overnight based on the candlestick patterns.

The above is for ETFs only. Invidual stocks are open for grabs. Hey, I forgot about CTCT, constant contact. If any of you went ahead and bought that, congrats, you made about 500%+ if your timing was right. The day before expiration the stock dropped like a rock and the put would have rocketed up in value. I myself forgot I had bought that for almost nothing, it was a .10 contract.

So thats it for today, see you tomorrow!

Tradinginsider