how to protect a profit
- Thread starter Mdtbyk
- Start date
It's not an option to sell it
but u r right I should sell it if I was able to ,It's a constant dilemma: If you want to reinvest the money, there's limits to how well you can protect the profits and still keep a potential upside. To the downside, it should be easier, just close/scale-out whenever position is beyond your conditions for the trade.
Trade management is part of your edge, so work on getting an edge, if you want consistency. To gain money you need to risk money. You can keep head spinning or do the work, and it will take much longer time than you anticipate and nothing will ever feel 100% certain in this game, far from it.
Speaking generally here as I don't know options.
Trade management is part of your edge, so work on getting an edge, if you want consistency. To gain money you need to risk money. You can keep head spinning or do the work, and it will take much longer time than you anticipate and nothing will ever feel 100% certain in this game, far from it.
Speaking generally here as I don't know options.
the piece of info missing is if you bought that put at the same strike as what you entered the long future. Assuming that is the case, then like @Pekelo stated: sell a call to lock in the profit, or buy another put at the current strike to protect it if you still had the expectation of higher before end of year.. assuming you are not concerned about time decay... which you dont seem to be.
