A nice day today. LNKD broke out over the resistance area. I was able to take profits at the resistance hit near the 118.5 area. One of the things that happens when I am already in a position is that I sometimes get too involved in thinking about the position I am in and dont think objectively. e.g. with the AAPL strangle of 505 put and 540 call, I was always hoping for the stock to break out or break down without realizing that it was not able to clear resistance or break support areas. To resolve this situation, I am going to think objectively and re-analyze my situation with regard to the current position. I will close out the position if its not going anywhere and put my money to work somewhere else.
Lesson- always try to be objective when you are in a position. Detach yourself from your current positions and think objectively about where the stock has the potential of going based on the chart.
Trading Journey 