Last week, I wrote to you about how winning is hard -- because holding out for large wins is easily the hardest thing we attempt to do as traders. Sitting through pullbacks against the direction of our trade is so. damn. hard.
I highlighted a trade we currently have on $CM. It was pulling back and testing the mettle of anyone long -- including me. Here's where it was at the time:
You can see how one might have been nervous about losing their large open gains?
I argued this is exactly what must be done if we want to have a chance at earning the outsized gains that are absolutely essential to long term success.
Well, we haven't won anything yet. But just one week later, our patience is being rewarded:
In today's weekly Options Jam Session (click the video at the top), we talk about this $CM trade, what our next steps are with it, as well as review some other current option positions that need some updated stops as we ride favorable trends.
Sean McLaughlin | Chief Options Strategist, All Star Charts
