Lesson from @CTUCyberGroup: Don’t Be Greedy
Yesterday in the Cyber Live Trading Room, one of the biggest lessons we go over time and time again, proved to us why it’s so important. DON’T BE GREEDY!! The main reason we teach to make your days pay is not only to make sure we know what our goals are, but it also stops us from staying in trades too long and giving back the profit.
$YOD is a perfect example of why after we make our days pay, we don’t continue to wait and see if we can make some more. In the above chart you will see from 9:32am EDT $YOD went from $6.40 all the way up to $7.10 in only four minutes. Yes that’s not a mistake, four minutes! For most of us, 70c is more than we expect to make for the day. 70c on 1000 shares is a total of $700 in profit. How many people do you know make $700 in only 4 minutes? As you can see if you decide to keep on holding it, not only would you have lost some profit but in turn would have made a profit into a loss.
As everyone in my chat room could easily repeat, once you make your days pay; there’s no reason to be here! Go home!