Dodging Trains: Followup on STAA daytrade
Just a little re-affirmation regarding getting out of a trade that’s not behaving. Live to fight another day, as they say. Had I panicked and held onto STAA yesterday, I would have been down $700 just after the open this morning, less than 24 hours after I initiated the trade. Instead I lost about $15.
Now, I had no way of knowing STAA would fall further. It could have doubled. Point is, I don’t care. If I had held on and ended up with a gain, it would have been accidental. Not repeatable outside of pure chance. That’s what gambling is. And over the long haul, gambling only has one outcome.