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 Strategies & Market Trends : Befriend the Trend Trading

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To: Dr. Stoxx who wrote (37706)6/29/2005 12:51:24 PM
From: MeDroogiesRead Replies (1) of 39682
 
Well, I've been extraordinarily busy lately, but I have been doing some trading and doing "OK". Nothing really sweet until today.
I took out July 300 calls last night on CME. Sold them this AM for a 3X gain.

Sounds great, and it was. Except I forgot to do something and it's a valuable lesson:
Had I placed a .50 trailing stop on my option, I would have wound UP 10X my initial investment!!

Just a little reminder for everyone that pulling the trigger on a win is good, but trying to ride it for more is BETTER!

Dang. Even when you win, you can't win them all.
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