Unless you are really regretful about the “missed” or “unrealized” opportunity, a realized profit never hurts. Here are two good examples of my intraday trades yesterday-
The Mosaic Company (MOS) was down yesterday, together with all the fertilizer stocks those were beaten badly. I played this for a reverse direction, and netted with +9.2% in less than 10mins. MOS continued its uptrend to $128 all the way from $123, so in the hindsight I would have nearly doubled the initial investment, if only (the counterfactual thinking). But once I am out, I was out. No second thoughts.
The Potash Corp (POT) was another fertilizer play for a short intraday netting +15.3% in short 15mins time. Almost the same pattern as with MOS (can’t attach the fill, But I am attaching a chart so you could see the price movement).
And guess what, at the close of the day, both were hammered further and I would have lost, if only, I would not have booked profits. Profits never hurts.
Profitable trading, OP
intraday trading, market psychologyOptionPundit© (OP) is designed for novice as well as serious option traders. It is a stock & option trading blogsite that is dedicated to the following objectives: read more ⇒
Tony Chai
April 27th, 2008 at 9:38 pm
Hi OP :
Yes, profits never hurt, especially with options since you’re trying to beat time (ie. time value, fast bid/ask spread moves) & volatility. Hope you’ve overcome your “regrets” by now
Cheers.
Tony