Number 1 Rule in my Book
ALWAYS ALWAYS ALWAYS Lock in some Profit for ANY Investment!
I spend 75% of my time trading Options but I’ve been in the Market since early 1990’s.
So most of what I state here is for Options but it still stands true for Stocks as well!
If you get into a trade and that trade jumps 200% in a day, don’t let Greed Nor FOMO affect you, SELL 1/2 of your Shares (or Contracts if trading Options)! Now you recouped ALL of your original capital Plus profit and the remaining 1/2 are Completely Free!
Also……. if you cant get out of a trade the Same day you got in, DO NOT GET IN!
I spend 75% of my time trading Options but I’ve been in the Market since early 1990’s.
So most of what I state here is for Options but it still stands true for Stocks as well!
If you get into a trade and that trade jumps 200% in a day, don’t let Greed Nor FOMO affect you, SELL 1/2 of your Shares (or Contracts if trading Options)! Now you recouped ALL of your original capital Plus profit and the remaining 1/2 are Completely Free!
Also……. if you cant get out of a trade the Same day you got in, DO NOT GET IN!
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- Market Investor since 1992.
- Options Trader (8) Years
- Crypto Trader/Hodler (2014 - Present)
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CowJumpedOverTheMoon : I am a recent follower of yours precisely because of your knowledge of options. This Moo Moo community is great for learning something new and researching in other areas is fun for this liberal arts person. Yup. I am new to options, but today I placed my first paper trade to get over the fear of not knowing how...Thank you for any basics on reading the charts and anything else that newbies can use.