{"id":43307,"date":"2016-03-11T10:46:23","date_gmt":"2016-03-11T15:46:23","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=43307"},"modified":"2023-04-26T09:14:12","modified_gmt":"2023-04-26T13:14:12","slug":"score-one-for-the-profit-takers","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/score-one-for-the-profit-takers","title":{"rendered":"Score one for the profit takers"},"content":{"rendered":"
\"image\"<\/figure>\n

Trader A stopped me in the hall to OK his large options put buying (bet to the downside). He has more exposure than his risk parameters allow. I ask the length of the trade. He replies, “maybe Monday.” I ask whether that makes sense for him. He thinks about it but responds the longer play is the trade. We agree this is a day to go for it and added risk makes sense. I leave the exit up to him.<\/p>\n

Thirty minutes later he bolts into my office with: “I got flat. I was up too much. When I am up this much too often I give back my day.”<\/p>\n

Same firm. Different trader trained by the same firm. Same day. Literally feet away from Trader A, Trader B exchanges a gchat with me. I ask Trader B his plan for the day. He shares he is holding for LOD (low of day). He holds and gives back sizable open profit. He is a bit bummed leaving the trading floor after the close but had decided to go for it.<\/p>\n

Trader A and Trader B made different trade management decisions.<\/p>\n

There is no right answer to how to have traded today. There is a right answer for you given your trading rules and system.<\/p>\n

Today we score one for the profit takers.<\/p>\n

*no relevant positions<\/p>\n

\"tradingworkshop\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Trader A stopped me in the hall to OK his large options put buying (bet to the downside). He has more exposure than his risk parameters allow. I ask the length of the trade. He replies, “maybe Monday.” I ask whether that makes sense for him. He thinks about it but responds the longer play is the trade. We agree … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2646,4897,4898],"class_list":["post-43307","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-profit","tag-score","tag-takers","no-post-thumbnail"],"yoast_head":"\nScore one for the profit takers | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/score-one-for-the-profit-takers\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Score one for the profit takers | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Trader A stopped me in the hall to OK his large options put buying (bet to the downside). 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