Huge lesson learned on profit taking in MU
Well folks back in Mar 2017 I got into Micron Technology (MU) where I bought the May 29 calls as a Q1 earnings play. I was right about the call and was up big and didn't take profits of any amount...man do I regret that. What I learned is that I should have at least taken my cost of trade off the table. What hurts the most isn't the fact that I let +205% returns go, its the fact that I was right on the speculation as the stock popped three days after my entry and I walked away empty handed. I have my reasons why I didn't settle but they don't outweigh being discipline.
The only thing that I can do is learn from that and let it resonate so loudly throughout my trading plan that I never repeat this costly mistake again.
