Secret 25THE SECRET OF SCALING
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Try to scale into positions and out of positions. As you enter
an option position, take a few small steps; initially take a small
position and then add to it as the underlying moves in price, always
making sure you are getting good value for your options.
However, never take a huge position. Make sure any option
position is less than 5% of your total option buying portfolio.
Also, if you find a super bargain, forget about scaling and take
what you can get!
Scaling out of a position is the secret to never losing a good
paper profit. Gradually take profits as the option position moves
in your direction. Sell a few options when they double in price,
sell some more when they triple in price and so on, leaving just a
few options for a potential super spectacular move.
Scaling out is one way to insure that you will not lose the
profits already in your position. Scaling, of course, requires that
you buy more than one option to a position. Try to buy at least
three options to each position you take.
Try to scale into positions and out of positions. As you enter
an option position, take a few small steps; initially take a small
position and then add to it as the underlying moves in price, always
making sure you are getting good value for your options.
However, never take a huge position. Make sure any option
position is less than 5% of your total option buying portfolio.
Also, if you find a super bargain, forget about scaling and take
what you can get!
Scaling out of a position is the secret to never losing a good
paper profit. Gradually take profits as the option position moves
in your direction. Sell a few options when they double in price,
sell some more when they triple in price and so on, leaving just a
few options for a potential super spectacular move.
Scaling out is one way to insure that you will not lose the
profits already in your position. Scaling, of course, requires that
you buy more than one option to a position. Try to buy at least
three options to each position you take.