RIO - TRADERS THREAD

Ian, sorry to hear you have had a bad week. Your positions of 2760 and 2811 are not crazy positions, those levels can come back and very quickly too.

You mentioned about closing positions too soon, as long as the profit is there, who cares if you could have got more out of it? That is the danger which I used to suffer from, waiting for the top, see if I can get more out of it, then got caught in the reversal. The reason why I rack up so many trades, is because I am in and out, and do a smash and grab, then re-evaluate as to whether or not to re-enter. Yes, many times I could have got more out of it, but I`m happy to leave some points for others, as long as I gain too.

My point about closing positions too soon was, closing losing positions too soon. With highly volatile stocks such as RIO, it virtually always come back close to your opening position, therefore it is not worth closing a losing position if you can sit it out financially. Therefore I only take out positions at a level per point that I can sit and wait should the worst scenario occur.

Closed one position @ 2701 for 22 points.