Replies to post #4421 on Langlui's Big Board and Options Plays

[langlui]

My BF bought the GOOG April $400 put and $500 call on Thursday. He turned the $500 lotto that he spent on the $500 call on Friday to a whooping $40,000 (minus the losses on the $400 put). I gave him this suggestion but i didn't do that myself. What a shame. Now I really think I was controlled by the demon last week :P I was crying and mad at myself but he was so happy that he doesn't know how to comfort me :(

[MrBigz]

Some good wisdom from simplegreen's IBox

.If you are "hungry" you will take profits at a good profit point and not look back..you are just happy to add to that $2500 portfolio value that you started that trade with!This type of thinking IS IMPERATIVE to me and I WILL NEVER.. NOT be hungry in my trading again.When I first started years ago with $4000 I did quite well til I got up to around $11,000 I would start to backpeddle.After a few cycles of this I realized I was the problem because I was no longer "hungry" and would start getting sloppy,greedy and would make mistakes.I DO NOT, on the other hand trade to make money ,I trade to TRADE WELL! If I have made a good well planned trade in both the buying and the selling then the money is a byproduct of that trade.Read this area repeatedly and practice it religiously and it will serve you well...it has me.