Replies to post #150614 on Option Millionaires

[THECRAPSMAN]

IMO Greed cost you now 3k GOOG/SODA.Also once again whats wrong with putting in a STOP LOSS?

[phytobedo]

Sounds like you made $500. Buy an inflatable raft, and boogie down that river of tears you're crying. Lol- you made money, that's the whole point!

[pennypuptech]

hey manhack -

first off, congrats.

second, this is a battle everyone and their mother (who stock trades) deals with. In the words of a famous man... greed is a mother fu*****!

....... Now on to my trading rules (keep in mind that you may want to scale these buys if you're trading less than 300-400 per options trade)

You're never 100% right.
Sell 1/3 of your holdings @ 50% profit
Sell 1/3 of your holdings @ 100% profit
Sell 1/3 of your holdings at a logical trailing stop % based on recent movements.
You're never 100% right.

As for your lessons.. I would edit them slightly :)

1) When dealing with "larger" positions option prices and profits/lossing swing greatly. Take profits and free ride

2) When you are up big(REMOVE) SELL SOME. 1/2, 1/3, 1/4....

!!!! cheers

[jimmybob]

Nice to Vent and yes I know exactly what you mean. I have conviction on alot of my plays but there are many times when it will bite me in the azz...

Nice to be in cash and making profit though so congrats to you!

[MaxShockeR]

Sold for a Loss? you made $500 ;-) profit is profit, you learn from mistakes or bad habits, GREED plays tricks on traders.

Good Lessons you posted, similar to what i always say at # 2 just add to try and take your initial stake in the trade even better with some profits and let FREEBIES RUN like Forest Gump ..LOL !!!

So lessons:

1. When dealing with "larger" positions option prices and profits/lossing swing greatly. Deal with it.

2. When you are up big SELL SOME. 1/2, 1/3, 1/4....

3. I wouldn't have been up as much if I didn't put so much into one option so I should be glad it didn't go to $0

4. If this was easy I'd be at $10,000 already with all my winners that I "could of should would of" sold when they were up. It's not easy, so don't beat myself up.

5. SODA has 2 more weeks to go. It will be $55 by the end of the week now that I sold for a "loss".

#StocksRadar #Options

GLTA

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