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ET-er BigHog posted this on someone's thread a while back, so I assume he is the author.

Risk is relative to your experience. Being aggressive at or just before your signals is relative to your courage. Your courage is relative to your confidence. Your confidence comes from knowing all of the above have been conquered. The rest is easy.

Exactly my thought. I've already made $1200 on tiny DRYS position between the Nov low to a pullback from the recent high. I'm back in around the same price as Nov, only this time a larger position (four IRA accounts instead of two). If DRYS were to suddenly announce bankruptcy, each of the IRA...

Thanks, Mad! This bill is great idea, but let me cover my short positions at a profit first :D P.S. - You're way too young to be a curmudgeon.

Yes, much less $$ at risk.

Fantastic, Bob! Is this a record for you?

Rashid, keep in mind you can buy simulated yachts, Rolexes and vacation homes with your simulated profits! We do it all the time when testing our automated system-in-progress :D :D :D

Yes, MrStocker, thank you. I'm holding off on HIG for now, but got DRYS back in the IRAs today @ 3.52, figuring I could handle a 3.52 worst case scenario drop :D

+$282 Day +$7220 Month +$15235 Year (25% ROI-to-date) Put on small DISCA swing short looking for eventual gap retracement over time. Short ORLY @ 32.65 overbought, covered oversold @ 32.35 for a $150 gain. Caught the “meat of the move” very nicely. Offered 9.25 HOTT on run up and...

+$282 Day +$7220 Month + $15235 Year Hermit, nice month! I took small DRYS positions in four IRA accounts today. The bankruptcy downside is worth the possible "back to $100 some day" upside :D Have a good weekend all, and may March bring us all BIG GREEN!

Great work, Ben, keep up the strong risk management and you can't lose!

Hermit, geez: I was unable to sleep all night because of your kind words. Now I'm afraid to trade today :D :D :D

Hey, I just realized this was a loooong trade! First one in I don't know how long. And my palms didn't even sweat!!!

Ahh, nothing like lowered guidance to "put" money in your pocket :D

Excellent advice, IMHO!

+ $460 Was doing many things today in between watching and studying (mainly SPY and GS), so did not trade a lot. Placed HOTT target of 9.09 and HOTT bounces off 9.10. Yesterday I missed exit by .01 cent. Amazing. It moves up, keeps finding higher support, but can’t even manage a 50%...

+ $460 Very little trading today, lots of studying SPY and GS action. Ending the day flat for a change!

I saw both of those after hours. Very nice! Yes, FLR was the example I gave from last summer of gaining $4/share after hours, then dropping hard from the open all day. What I've done when trading options under volatile "emotion-driven" conditions (news or earnings) is have a 1-min chart up at...

I simply don't have the experience behind me to address letting profits run. I'm not real good at it yet! What seems sensible is, if the price action (or pull of the market) leads you to believe a profit target was set too conservatively, exit half the position at your target, place a trailing...