I’m on a terrific run, so splendid at 25 for my last 27 trades I do not want to book a loss. It would mess up my streak and place a dour footnote into what has been an unbelievable and surreal gift. Today at the opening tick, without hesitation, I sold out of BOX for a 9.3% loss. The streak didn’t matter, nor did my feelings for BOX as a company. The share price had simply gone too low to tolerate and I didn’t want to tie up important funds in a stock behaving so poorly.
Maybe in the past, a younger and more immature Fly, I’d hold onto BOX and oversee a small 9% loss morph into cataclysm — but not today.
Simultaneously, I am watching my JG position rip higher again, pushing my unrealized gains in the stock to +42% since August 21st. A lesser man would’ve sold by now; but there has been nothing in the price action to suggest it’s done going higher.
Hence the adage applies here and this is the lesson: let your winners run and cut your losers quick.
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Agreed, it’s always about the exit.
And my landscape architect brother would approve of your yard!
Great risk management Fly. 0 emotional attachment and the prospect that it’s entirely possible that you may be wrong at any given moment – very key. Trade’em in trade’em out.
Gave up drugs and bought ENDP…sounds like me after a long weekend