Take Your Profits When You Can
Posted on Thursday, November 18, 2021 at 5:13 PM
Dan Passarelli, CEO - Market Taker Mentoring
The best advice I can give to any trader is to take your profits when you can. The longer we have on an option trade, the more uncertainty we have. More can happen. So, I love the idea that I'd rather take a smaller profit now than a bigger one later on my options trading positions.
That's not to say to be too quick in profit taking, but if it's getting close, I don't mind conceding some gains now and take the risk off the table.
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