Thursday, November 4, 2010

Never let a winning trade turn into a loser

Imagine you could get a free spin on a roulette wheel, would you take it?

Our OCLR trade has moved up about a half point (aka 50 cents). My original stop was set at $8.24 but we can now move that stop to $9.24 and even if we get stopped out we break even on the trade!!! On this trade I personally want to lock in some gains so I am moving the stop to $9.34 to lock in $100 gain (after trading commissions).
(click chart to enlarge)

NEVER LET A WINNING TRADE TURN INTO A LOSING TRADE!

Steve
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1 comment:

  1. JacobNovember 6, 2010 at 11:56 AM

    Steveo love the blog man I just watched wall street 2 and it pumped me up !! I will be the least stock savvy person to ever leave a post on this blog ! I'm glad I have smart friends to keep me informed haha It all looks great !!

    Jake

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