I need, really need, to remember that scaling out is always good, especially when there's already a good paper profit. This was the case with FAZ in premarket trading this morning. It ran to 15.62 or so, then dropped as futures gained ground. I sold my position at 15.32 — losing 30¢, or roughly half my profit.Still a decent gain from yesterday's closing bell (+0.37/share), but yet another example of shoddy risk management. Scale out!
If I only had a brain ...
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