I wish I would have come into the game with the mindset if I have 50% or higher profit, that’s good enough. Let’s take that money and run.
Sometimes you’re in the profit with an option. Unlike a stock, you can’t hold an option forever. When the expiration date hits…
There have been a few times where I’m at 90% of profit with one to two days until expiration, and I wanted that last 10% profit. I wanted that stock to expire with 100% of profit in my pocket.
But I can tell you many times on that last one or two days, the stock did the complete opposite. I gave back all of my gains. Sometimes I even lost money.
I had to stop myself and ask why I was risking the 90% profit I had, just for the 10% that was left.
Image and article originally from thebrownreport.com. Read the original article here.