It means that if a person tricks you one time, it is their fault, but if you let them trick you a second time, the blame is on you. 

You fail to learn your lesson when someone is dishonest with you the first time.

This is with $SPY. We might get tricked again and dip to the $740's if the market wants to again.

$760 is the hard resistance!

What did I do? I bought puts expecting a slight dip.

We did wonderful today. We earned around $1,500 today with our different trading accounts. Wonderful August, 2nd year in a row of non stop profits. Hopefully we can beat our monthly average and share with you on discord.

See what we journalize on our earnings today.

Many of our positions were opened for a few days prior to cashing out. We learned that cashing early can be detrimental in building wealth. $BE was one that we took a 40% gain at a minimum. This is no $AMZN or $MSFT in terms of volatility. Better not to be greedy. $TSLA call when $TSLA hit $435 was closed prematurely at a loss. This was due to the short term expiration and likely decay. We had to lose 50% value. If we were to leave this open, we would up a lot today on the trading account seen above.

$SPCX was another common stock we sold out with a small gain. Earning release is tomorrow and trading this is very risky!

Risk to reward is not that enticing. We are not going to hold into earnings.

What we will be doing tomorrow is likely hedging due to the big names reporting for earnings tomorrow. We know that job data and CPI is next week. Our custom option scanner did detect a lot of puts in terms of option interest and volume on expiration date 08/21/2026.

See below. Hence my massive hedge was completed. I can be wrong but my instinct proves likely.

Tomorrow will be some longs but will not keep until the next day.

Another trade we will do tomorrow is

$PLTR. In the market open we will study the momentum and price action. I may buy another 100 shares for a day trade. We believe this name is very promising but volatile at the same time.