Rebel Traders 022 : Roll Over Beethoven
Do losing positions have to be losses? What happens when you strategy fails to deliver but your analysis still indicates a possible opportunity that just has not happened quite yet. Well, roll on over to the Rebel Traders podcast and let’s find out.
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Managing your portfolio is one of the most important aspects of succeeding in trading and there are occasions where your positions are not performing as well as you would like or you have options about to expire but you still think the position is good. What do you do?
Well in this weeks show, the Rebel Traders, Sean Donahoe and Phil Newton, are grabbing their guitars, cranking up the amps and going to rock and roll those positions and show you a few ways to manage that portfolio just a little bit better.
3 Key Takeaways From This Show
- If your trading strategy has a positive expectation and you are factoring in losses as part of probability, you don't need to roll your positions.
- Rolling positions is useful when you want more time to be right but you could compound your losses if you are aware of WHY you are rolling
- Don't let emotion drive your trading and become attached or committed to a position. Be ruthless with your trades and if new information effects your analysis, listen to it and not your emotion.
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