Update 4/20 8:52am
I would like to address the following email I received last night about my previous GOOG position
why would you sell it before close and buy it later at a higher price. I think that is just plain crappy trading move...The GOOG position that I closed yesterday at $475.25 was a positional trade that I initiated on 4/3 at $465.96
Closing the position before the earning announcement is called RISK management. I did not want to carry the risk of a possible drop in price just in case the street did not like the numbers. I can always get it back possibly at a higher price but at a more manageable risk.
8 comments:
another winner, unbelievable, please sell us your perfect trading in real time.
Anon,
You don't have to pay me for a real-time alert on this one...the whole trading world was waiting for GOOG and once the earnings came out you just make your best judgement and jump in or not.
Whoever sent you the e-mail is either a gambler or did not know about earnings. Holding into earnings is a straight gamble. You never know how the street will react. Solid re-entry. -TVH
Good risk mgmt is what differentiates the successful traders from the poor ones. Good lesson and job MC! No need to gamble to make good money.
sheesh... whatever happened to common courtesy and politeness?
you may disagree with someone but why not ask discretely 'why did you do that?' or 'what were your reasons?'
thanks btw MC, you're a class act
:-)
Thanks everybody for your kind words.
-MC
Dont take it personal. Some folks come off a little more harsh then others. While others are just going through a bad time in their life and are rubbing it off on you. I know they shouldnt be posting such harsh comments.
Please dont be discouraged by these harsh rude comments. Please keep posting as this blog has added much value to what I do.
Thanks Anon! Glad to be oof help to others.
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