{"product_id":"stcov272exyo","title":"Stocks \u0026 Commodities V. 27:9 (29): Explore Your Options by Tom Gentile","description":"Explore Your Options by Tom Gentile\u003cbr\u003e\u003cbr\u003eTRADING PLAN\u003cbr\u003e\u003cbr\u003eI bought five Xyz October 160170 call spreads for $1.79. Heres my trading plan:\nBuy Xyz October 160170 calls spread for $1.79\nMax loss: $1.79\nMax risk: $1.79\nMax reward: $8.29\nRatio: 4.6 to 1\nStop-loss: If Xyz stock closes below $131\nProfit stop: Exit three contracts @ tech stop $155 ($3.46 net credit exit) and let the other two contracts run.\nTime stop: 30 days to expiration\nXyz as of todays close: $152\nCurrent value of spread: $3.00\u003cbr\u003e\u003cbr\u003eWhat else should I build into my trading plans? This is when it gets difficult for me: When Im winning I want to do too much (make a trade adjustment, watch the market live) because Im excited. When Im losing, I dont even want to open my trading account and look at the balance.\u003cbr\u003e\u003cbr\u003eFirst, let me say youre doing the right thing by developing a detailed trading plan for your trade and at the same time examining the what-if scenarios. Next, lets break your questions down into two parts: 1) the actual trade and 2) the psychology of trading options and spreads.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52134101647729,"sku":"\\V27\\C09\\170EYO.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_c677b917-f28f-435b-81ba-b0a50b5c99bb.jpg?v=1739666589","url":"https:\/\/shop.traders.com\/products\/stcov272exyo","provider":"Stocks \u0026 Commodities","version":"1.0","type":"link"}