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Risk Control: More Important Than Ever
“Andrew, is oil going up or down now? Should I sell my oil ETF?”
“I don’t know. How much were you looking to make and what’s your time frame?”
“I was looking for a 10% pop over the next few days and I’m down 18% now. Wait let me pull up a…now I’m down 19%.”
“So…you were willing to risk 19% or more to make 10%?”
“Uhhh….I guess so.”
“Yes, you should sell now. Sell everything. And with rationale like that, NEVER trade again.”
That’s a real conversation I had with a friend a few weeks back. I get a call similar to this one about…
15Feb2009 | Q1 Publishing | 0 comments | Continued
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