Trading Rule- follow your plan

"Have an exit plan and stick to it. Changing your exit or adjustment strategy midstream while emotions are running can be a dangerous way to go".

I was watching the market huddle with Steve Lentz and he mentioned an email from someone where he had a bearish EEM calendar. EEM turned against him and went higher. The client decided not to exit and thought that he can let the short front month strike expire and roll it over since he had the April/June calendar.

This situation happened to me with my AAPL 90P calendar. AAPL was very bullish and the position turned againist me and I tried to rationalize why I should stay in the trade. After failing to see any weakness I exited the trade. You can read more about the trade here.