WFT Profits Evaporated!

Position Sizing, Money Management, Trailing Stops

Well, I was pretty stoked that my WFT option gained $50 on day number two, on a $225 option…that’s 20% in 2 days.  So I placed  a trailing stop at a level that I was fairly certian would help me net at least $50 if the price dropped, but somehow I botched it, and ended up losing $10 on the trade overall.

I didn’t do a lot of trailing stops in my paper trading, I usually would get panicked and just sell, so that’s a new component for me.

I’m not discouraged though, I’m practicing good money management and position sizing.  I could do this trade 100 times over before I’m out of trading capital, so I’m sure it will turn around  long before then!

Suzanne @ October 14, 2007