7-22-10 Inconsistency leads to failure or failure leads to inconsistency?

INTRO
If you haven't already noticed from my title. I'm contemplating as to which is true, inconsistency leads to failure or failure leads to inconsistency? As for me when it comes to blogging about my experience with stocks and options the latter is true. Nobody wants to talk about failures. In fact, you really just want to sweep it under a rug and pretend it never happened. One has to realize that failure is part of life. It depends on how you look at the failure. Do you look at your failure and become depress and apathetic, shun from it and not even look at it, or look it straight in the eyes and learn from it? So it is with stocks and options the market has a mind of its own. No matter how much technical analyzing you do you can never beat the market every time. I have to also realize that my pursuit to learn all that I can about stock/option trading is going to come with a price. That price can be my time, emotions, and even money. I have to see my lost as tuition. It is what I pay to learn from my failures. Experience is invaluable.
Some topics I would like discuss in some upcoming blogs are calendars, double calendars, debit spread, credit spreads and married put calls. Stay tune!

PICKS
If I get follow through I will enter in ticker DV based of the reactive template. Needs to be less than 49.25 (support). Also the sector needs to be trending down. If all follow through rules are met will purchase a Nov 45 Put.

FLASH FROM THE PAST
Trade #4 ESRX May 105 Put based off of a pattern alteration. I entered this trade on 10/14/10 and exited about two hours later on the same day. I entered this trade because I it passed the lower threshold. Stopped out on a 10% trailing stop off of the option. Followed all the rules. Did not have control of the outcome of this trade which was a lost of about a 17% lost.

OPEN POSITIONS/CURRENT POSITIONS
I have not been trading. Therefore I have no open positions.

CLOSED POSITIONS
I have not been trading. Therefore I have no positions that I have closed.

CURRENT ACCOUNT BALANCE
Drum roll please...
My account is at a whooping $300.75 (is there a way I can make the the numbers in a smaller font?LOL)
Note- I'll be sharing how some of the last trades I got into were at a lost. One of them being a stock that decided to gap on open the day after I got into the trade. The market must not like me :D

Please feel free to leave feedback, comments, and questions.
Disclaimer- This trade journal blog is for education and
entertainment purpose only. In no way am I implying that you
purchase any of the stocks that I setup on. Stocks and option
trading is extremely risky.

7/12/10

This blog is waaay past due. My apologizes. I haven't been trading much. I've been working on some other work projects. God willing I should be doing some trades this week. Also, if you haven't noticed I went ahead and rounded off the original starting amount of $1,500.00 to $1,000.00. So, I took $150.00 dollars out of this account.
The total balance of this account is $504.65. I'm pretty much at 50% lost. I'm right now in position with X. I'll probably get out of it tomorrow. Anyhow that's all for tonight. Right now things are looking pretty bleak. Blahh. I've been apathetic about stocks this past week. I'm hoping this next week will be better. Nonetheless I'll be back on the ball with my option studying starting tomorrow (or later today). It's all in God hands. One thing I do know is this past week I haven't been seeking him like I should.