SUCCESS STORY

Here is the AXP Success story. I been watching AXP all summer long, and then the recommendation came out to buy puts. I was a little hesitant, because I have been beaten up on puts all September long. I cautiously entered a limit order for the Nov 43 puts at $2.50. It did not get filled, and I forgot about it. Later that day I put in an order for Nov. 43 puts…..all the while still forgetting I had a pending order for 42 puts, which must have gotten filled, and I did not realize. (rookie error…I am a new trader) By mistake, I had double the amount of AXP puts that I intended to buy. This turned out to be a profitable error after yesterday’s big move. It actually made up for my draw downs in September.

Paul B.


This is a good example of how one successful trade can help to overcome a few unsuccessful ones. If the market makes the expected move down within the next few weeks, earlier draw downs can be erased very quickly. Although the amount of risk was probably much higher than Paul had planned, he was able to recoup a big chunk of money through just one successful trade. Paul also uses a money management plan so that he doesn't wipe out his account through a small string of unsuccessful trades. This is what allows him to survive until he gets that next big winner. Good job Paul.