The Dow continues higher. Up 68 points on heavy volume. Advance/declines were over 2 to 1 positive. The market just keeps heading higher. I am getting killed with the puts I own. I should perhaps sell them and try again. It is painful but my idea was just wrong and I have compounded the problem by risking way too much. These are mistakes that just shouldn't happen. Perhaps I was just anxious to trade since I had been on the sidelines for so long. My normal discipline wasn't there. Of course there is always a chance that the market will go my way but it's doubtful now. Maybe I was lulled into a false sense of apathy with an extra week on the options. I don't know. But the fact remains that we are heading higher and the signs do not point to any significant downturn on the horizon. Quite the contrary, we are overbought and staying there and that isn't a good sign for puts. Not much else to do now at this point I suppose but cut the loss. Gold was up a touch and the XAU broke to new lows and then came back but was still off over a point today. I need to look at the charts here. Could be time to get long. Mentally I'm about spent, with the angst from a big losing trade on my head. The mental capital used up in losing trades is hard to recover from. It takes up a lot of time and effort and isn't worth it. Better risk control parameters must be used. Sometimes you just get it wrong. Sometimes the indicators don't work. It's no excuse to break the rules.