by Gavin M.
I am sure most of you have enjoyed the huge BTFD rally this week. Judging from my TL, there are quite a number of people who have made a fortune trading NFLX and GOOGL. I am seeing people post that they made in excess of $10K this week. I couldn't be happier for you!
Do not let yourself into the trap of putting all those profits into trading. The worst thing you can do to yourself is take your great profits and gamble them away in the markets. Withdraw these profits, and enjoy them! The market is in euphoric BTFD mode and those of you who have made so much should manage these profits wisely. The last thing you want to do is put yourself in a horrible situation.
I have heard firsthand from others how they made $22,000 on GOOGL or AMZN earnings only to trade it all away as they kept having losses in other stocks. How about you take those profits - buy yourself something fun or finally take that vacation you and your partner have so badly wanted?
Nothing hurts more than the feeling of losing so much of your profits when you could've used it to do something more worthwhile and fun. So my friends, manage your profits wisely. Making money is easy when the markets are kind but losing money, that's even easier if you're careless.
Have a fantastic weekend! :)
Traders from Equity Sense will be writing on this blog on positions and other market-related things.