Fun when your up -drop $40,000 in one day -no fun - I trade 8:00am-8:00pm--- look at puts and calls - must sign up at broker--- I buy -isis -incy - lgnd-- all calls --today -INO ---ISRG -down $80.78 --no fun --puts went up $78.00--- buy 1,000 at $2.00 puts-and sell at 78-2=$76x 1,000===???
good luck, I suggest you adhear to these 2 constants if you want to avoid losing money. 1, You never go broke by taking profits, and 2, Never fall in love with a stock. I know it sounds crazy, but one can easily fall in love with a stock, just like with a man or woman. When you do, you will not listen to reason, and you will think the stock can do no wrong. and worst of all, in many cases , if you stay with it long enough, it will take your money. gl
let's make sure to make the distinction between trading and investing. i don't view my purchase of INO as a trade and would hate to miss out on a potential 10,000% return by taking off half of my position just because i'm up 100%. There can be just as strong of an argument in certain cases, and this may be one, that one should continue to buy more as your conviction and belief in the management, prospects and value of the company strengthens.
Couple more Mo...1) take all emotion out of trading - that's when mistakes are made 2) be patient - give the stock a chance to appreciate 3) let the trade come to you - meaning don't trade just to trade - wait for good entry points 4) don't trade in the first 30 minutes of market opening - lots of head fakes by mm's 5) do your homework and watch a stock for a couple months before jumping in.....Those are just a few but they've helped me in the past years