AGS
PlayAGS, Inc.
stock NYSE

I *feel* that I am decent at a medium horizon price action view from a Technical Perspective. Have been in the markets since 2015, more curiously and actively so after 2019 when I learnt a bit of Technical Analysis. My yearly ITR also shows modest profits in long and short terms. But, I've burnt my hands and capitals in FnO (Options buying) twice. The second time, it was when trying to test my *feelings* if confidence.
What I've known to happen is that with stocks, you can endure the drawdown and tolerate notional losses and hope that it would recover (provided you aren't solely relying on it as primary income source). You think, the company ain't bad, its just a bad phase. In the very long run, you may break-even or even do well (but don't talk of XIRR) and feel validated psychologically. For example, I held on to Kabra Extrusions during its last correction and sold recently at around 25-30% profit (around 2-3 years of pain). I've also held on to duds, such as AGS Transactions, and sold eventually just to write it off. But in options, they expire worthless and they are far more volatile and there is no slow bleeding. Yet, the psychology doesn't change. Yet again, a lot of times, (for example, in BEL at 420 levels in June/July and Eternal), it felt like the stock didn't move in the desired direction until monthly expiry, and then, the opening of the next month saw them spike up. Again, that is just the markets being markets.
To try and overcome this, the nerd in me wrote a piece of software stack to practice risk management discipline and develop the muscle memory of taking losses, so that my lizard brain doesn't take over. I recently made it public for everyone. It's called [Ticktator](https://ticktator.com) \- The Flight Simulator for Traders. As the quote goes:
>If you must play, decide on three things at the start: the rules of the game, the stakes, and the quitting time. 
Most of the time, my directional bias is correct, but I get my stops and timings horribly wrong when entering the trade.
While practicing here, I've seen another pattern unfold:
\- If I look at the charts of the scrips I own, I still carry this anchoring bias and positive outlook and won't necessarily see the early red flags. If I make it a blind trial by hiding their names, my view would often differ. This is possibly because I have not made my rules of investing/trading explicit to myself and ride on a mixture of Technical Analysis and gut feeling after having seen A LOT of charts unfold (this is pre-ticktator). Now, I'm trying to quantify my rules.
How do you guys practice, if at all? Or are you the YOLO kind?

I *feel* that I am decent at a medium horizon price action view from a Technical Perspective. Have been in the markets since 2015, more curiously and actively so after 2019 when I learnt a bit of Technical Analysis. My yearly ITR also shows modest profits in long and short terms. But, I've burnt my hands and capitals in FnO (Options buying) twice. The second time, it was when trying to test my *feelings* if confidence.
What I've known to happen is that with stocks, you can endure the drawdown and tolerate notional losses and hope that it would recover (provided you aren't solely relying on it as primary income source). You think, the company ain't bad, its just a bad phase. In the very long run, you may break-even or even do well (but don't talk of XIRR) and feel validated psychologically. For example, I held on to Kabra Extrusions during its last correction and sold recently at around 25-30% profit (around 2-3 years of pain). I've also held on to duds, such as AGS Transactions, and sold eventually just to write it off. But in options, they expire worthless and they are far more volatile and there is no slow bleeding. Yet, the psychology doesn't change. Yet again, a lot of times, (for example, in BEL at 420 levels in June/July and Eternal), it felt like the stock didn't move in the desired direction until monthly expiry, and then, the opening of the next month saw them spike up. Again, that is just the markets being markets.
To try and overcome this, the nerd in me wrote a piece of software stack to practice risk management discipline and develop the muscle memory of taking losses, so that my lizard brain doesn't take over. I recently made it public for everyone. It's called [Ticktator](https://ticktator.com) \- The Flight Simulator for Traders. As the quote goes:
>If you must play, decide on three things at the start: the rules of the game, the stakes, and the quitting time. 
Most of the time, my directional bias is correct, but I get my stops and timings horribly wrong when entering the trade.
While practicing here, I've seen another pattern unfold:
\- If I look at the charts of the scrips I own, I still carry this anchoring bias and positive outlook and won't necessarily see the early red flags. If I make it a blind trial by hiding their names, my view would often differ. This is possibly because I have not made my rules of investing/trading explicit to myself and ride on a mixture of Technical Analysis and gut feeling after having seen A LOT of charts unfold (this is pre-ticktator). Now, I'm trying to quantify my rules.
How do you guys practice, if at all? Or are you the YOLO kind?