It did FINALLY hit it's target today, here's the chart:
The amount of sideways action just killed my profits. I sold my long call today for $2.10 and originally bought it back in middle of December for $2.00. So, I made 10 cents, minus commissions due my broker brought me down to 7 cents (i.e. really $7) with an ROI of 3%.
Hey, $7 is $7 - now I can hit Five Guys for a burger.
One other note of EXTREME IMPORTANCE - when you HIT YOUR TARGET you MUST take your profits. Even though I didn't make good profits, my target WAS hit. Do NOT hold out for more by HOPING that the stock price will go higher. Once your target is hit - it's then more of a guessing game and you no longer have your edge.
Remember, I'm a trader, NOT a gambler in the stock market. If there is no edge in my trade, then I don't want it.
Glory to God for this trade - thank you.
No comments:
Post a Comment