We’ve all had positions which were out of the money for certain periods of time, in fact it would be boring if every trade became a winner straight away. But, but, but, we must have a very strong sense of exactly how much we are willing to risk on a particular trade or strategy. Once this number has been reached, we are officially wrong and we MUST cut the trade and start again.
Don’t worry if you hit the top or bottom of the market, it happens to us all. Live to fight another day, keep losses manageable, and let those profits run. Good luck!
