Bow low

Market was heading higher again with light volume, and I was dead wrong again predicting it would have a sell off. I sold all IWM puts today. I need to survive in order to continue to trade in the future. I need to bow low.

1. Trade less and small. Quick and risky trades won't make money back, but will lose more.
2. Focus on the market trend and follow the trend, don't predict what's going to happen next and then use TA or FA to support my view.
3. Read the market, follow the market, and if I feel strongly, and with great TA patterns, only then I trade. Otherwise, I should just sit there and watch and read the tape more.
4. I learned a lot recently, includes one important observation: risky trade will kill you quick than anything else.
5. Don't trade options for now. I keep the option to trade option open, but will likely not use it unless I find a sure bet. Missing chances are OK, they're better than losing again and again.
6. There is no quick way to make money, you have to continue to learn, to find your own touch; don't try to predict and catch every moves.
7. There is another trading day in the market, I'll start to follow sound money management rules, plus trade here and there to find better rewards.
8. FA is for long term, TA works until it is not working.
9. Traders like Jesse Livermore are the ones win in the market and make a fortune, most traders will be broke and move on.
10. All I learned are good, if I can control myself to trade less.

Reading the market:

1. It will head higher this week, and depends on reaction to the earning news and other news, it will either break higher to very overbought condition again, or get a sell off.
2. Until the market tells me what's next, now is not a time to bet huge against one or the other.
3. I'm still almost 100% on the short side, plus cash. I need to adjust my positions accordingly.