Yes, I could have paid myself $250 (30%) of my potential gain from MTL but did not. I figured that if MTL ran up as I have expected, I could have taken 5 times more so I let the trade sit for a few more hours. A cold and calculated move that is necessary in the business of stock market trading. It’s all about the risk versus potential reward.
I left the trade alone until it hit my break-even point at $55 and I have to get out.
RIG was a different story. It was a great trade with a good setup but the trade did not pan out as expected. I risked about $500 for a potential reward of $3000. Not a bad trade.
