4.8 • 800 Ratings
🗓️ 15 November 2024
⏱️ 26 minutes
🧾️ Download transcript
When does a swing trader sell his position in a stock? In this episode Ryan details one trader's poor risk management in Bitcoin who only wanted to get back to break even, only to find his trade doing incredibly well following the election - and now doesn't know what to do? In this podcast episode Ryan gives his take on a poorly managed trade that turns out to be incredibly profitable.
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--- Support this podcast: https://podcasters.spotify.com/pod/show/swingtrading/supportClick on a timestamp to play from that location
0:00.0 | Hey, everybody. This is Ryan Mallory with SharePlanner.com's swing trade in the stock market. |
0:04.7 | In today's episode, we're going to be talking about when to sell my stock, when to take profits on a trade. |
0:11.7 | And it's a very unique situation to where you ride the stock down, you're taking a lot of losses. |
0:17.5 | And then you say to yourself, if I can just get back to break even, I'll get out of the |
0:22.0 | stock. But then instead of getting out of break even, which most people do, don't do, they |
0:27.6 | actually keep riding it higher. And all of a sudden they have a lot of profits and they're worried |
0:31.0 | about the bigger move. They forgot on the fact that they were way under on the stock and instead |
0:34.8 | just focused on what might be going forward. |
0:37.7 | And we have that right now going on with Bitcoin. |
0:40.3 | So today's email comes from a guy who is in the Bitcoin stock right now. |
0:45.6 | And he's trying to figure out what to do because he's been in it for a while. |
0:49.5 | He's been underwater on it for a while. |
0:51.3 | And now he's sitting on a lot of profits. |
0:53.2 | And instead of getting out at break, even like he originally promised and now he's sitting on a lot of profits and instead of getting out |
0:54.1 | at break even like he originally promised himself he's letting it continue to ride so is he doing |
0:59.9 | the right thing there is he doing the wrong thing that's what we're going to get into on this |
1:05.2 | particular podcast episode so instead of using his real name i'm going to give him a florida redneck |
1:09.7 | name a good old name of phyllis phyllis is a good Florida redneck name. Why do I use the redneck names? |
1:15.5 | I grew up in Florida. I don't want to use their real identities just because they may not want |
1:19.5 | their name out there 10 years from now. So I try to conceal it for them and don't want to use |
1:26.8 | the real identities. That's pretty much what it comes down to. |
1:29.8 | So for this email, Phyllis Wrights, Hey, Ryan, love the podcast and I've listened to probably |
... |
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