Taking Profits Using Any Options Strategy
Posted on Wednesday, December 22, 2021 at 11:48 AM
Dan Passarelli, CEO - Market Taker Mentoring
I'm a big fan of disciplined trade management. One of the ways I accomplish that is to use certain option order types. I use good till canceled limit orders for taking profits using any options strategy I ever trade.
If I'm trading momentum, like when I trade our short squeeze system, I trade with limit orders to set my profit target. If I'm trading earnings trades, same thing. Even with options credit spreads. It doesn't matter what the option strategy is. This is one constant in any trading.
Setting my profit target from the beginning helps me stay a more disciplined trader.
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