If we lack courage, we can replace it with systems

Courage is the ability to do something that frightens us. However, there are good courage and there are bad courage.

Bad courage is when we have bravery to do things that's detrimental to ourselves or others, such as gambling in the market with leverage, on stocks that we don't know, with money that with don't have. Let's avoid being such a degenerate.

Good courage is when we have the bravery to do things that's beneficial to ourselves or others, such as buying the dip on good stocks that we understand, when everyone else is just throwing dirt on it. Getting good stocks dirt cheap.

I think we can build courage by building our confidence and self-discipline. The more we understand about investing technique and the companies we buy, the easier it is to be courageous and have an undying conviction.

When we seek information about the companies, it is best to listen to both the bulls and the bears, so that we are not locked in an echo chamber and become like a cult member. With knowledge from both camps, we can make an even better decision and thus building more confidence and courange. However, if we still couldn't find the courage to act after having the right knowledge and conviction, we could hack it using systems.

Selling PUT options is a way to force us to buy shares when the price of the stock fall below a certain price. When we sell PUT options, wemade a promise to buy shares from the buyer of the options. However, if the share price crashes and we gotten chicken feet and we want to break that promise, there is a penalty to pay. The price of the penalty is as though we incur the actual loss immediately, thus unless we think that the situation will worsen further, otherwise there is almost no difference in fulfilling the obligation or terminating it. Thus, selling PUT option to make such commitment when times are good, would be able to force us to be "courageous" and follow through on our commitment, otherwise we might have to pay a hefty penalty .

Afterwards, Nio crashed back down to around $10 per share. If I were to chicken out now, I would have to realise this loss as seen below, which is the penalty I had to pay for breaking my promise. So it kindda forced me to be "courageous".