Jumped into Viropharma (VPHM) this morning at $17.11 on a break of previous highs, which it did in a very convincing manner. To say the least I am glad I got in when I did, though it is impossible to know that a stock will pop its top like it did soon after I got in.
Here’s the chart setup on VPHM.
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face. In this video, Ryan Mallory discusses the pitfalls that comes with refusing to take the loss and instead opting to become a bagholder on one's trades.
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