Wednesday, October 27, 2010

MYL - partial profit taken


I took partial profit on MYL the other day. Why? Because it went up a little for me, but the earnings announcement was coming out the following day.

Here's the chart showing were I took initial profits:
Earnings are news. News is a gamble. A gamble is something to be done with money you want to never see again - think Las Vegas. I don't gamble in my trading. I take very calculated risk with many factors in my favor. So, I took profit. Right now, I'm completely out of the trade, so I do still think we'll hit the original target, however I'll wait for a new entry point for now.

I made $32 (yippeee), which is a 13% ROI profit. I'm happy with that, but it's not over yet. We'll add more to it later, for now, we just wait.

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