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FEBRUARY 14, 2025
You’ve heard the expression “a watched pot never boils” before. Well, I think traders should familiarize themselves with a different expression: “A watched trade never wins.” At least, not if you’re me. And that was certainly the case earlier this week on a trade I had going on Procter & Gamble (PG). You might remember, I found this trade using the amazing Wave Indicator that Alex Reid hooked me up with (don’t worry, I’m begging him to share it with more folks as we speak) I even put the word out in the newsletter and on Telegram:
(If you’re not following the Telegram, do so here!) So I set up my trade: a debit spread on PG, expiration 2/14, and I set a GTC order at $2.10 targeting about a 50% return (my entry was $1.34) And then I waited… And I watched… And as seems to always happen when I enter a new trade, things didn’t look great at first. PG spent a few days moving lower, and my trade was down to almost a 100% loser. And here’s where my brilliant trading acumen kicked in (and by that, I mean my indecisiveness): I did nothing. I just put the trade out of my mind, decided I could stomach the 100% loss, and figured I’d let it expire and hope for the best. I’d almost forgotten about it when I logged back in yesterday morning and couldn’t find it… It took me a few minutes to realize that the GTC cancel order had filled, and what had been a 100% loser turned into a 57% winner without me paying any attention at all:
Now, every trade won’t work out that well, but I essentially turned a $134 LOSS into a $200ish gain just by NOT doing anything. And being comfortable with the possibility of a 100% loss made it possible. The Wave Indicator made it possible too! And I can’t wait to tell you more about that. Hope you have a great weekend! To your prosperity, Stephen Ground Editor-in-Chief, ProsperityPub
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