Many Ways to Win

By

Timothy Collins

 | Jul 02, 2014 | 12:02 PM EDT
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Trading gives you the right to change your mind. GoPro (GPRO) has been great for days, and suddenly it's deadly to your portfolio today. I was looking for a possible run to $50. Admittedly, I wasn't thinking it would happen in just a few days, but we did hit $49.90 yesterday. 

I didn't have the guts to short it. It was a hard borrow, but the risk/reward felt a bit random. Unfortunately, we can't always act on our thoughts or thesis. I changed my mind. I didn't want to get long by any means, but just felt risky being short, and making money would have been a result more of luck than anything. The $50 target was based on a round-number theory tied with a Fibonacci idea. However, given the time frame of the move, it didn't fit with the rest of my thesis....308 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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