PLEASE HELP: TOPSBN

[Hibiscus]

Went long TOPSBN before the correction; did not cut poistion according to stop profit/loss strategy; still long on levels we will not see before expiry and time decay is making it worse. What if I cut certain percentages now at highs like yesterday and enter into longer dated products at lows alternative to let it run up to expiry and take what is left?. Your comments please

[Tango]

I haven't checked to see if there are any other long-dated warrants issued by SB, but you might want to give the issuer a call and see if they will trade you into another warrant that isn't as close to the edge as this one. Try to avoid crossing the spread twice to get into another instrument. If you want to maintain the same position with the same issuer they should be able to help you. I'm sure you've learnt some lessons - warrants suck, obey your stops, don't hold warrants that are too close to expiry.

[Hibiscus]

Thanks. At one stage I was deep in the money but greed.... for more. John what do you think?

[SimonPB]

Hibiscus - I assume you now have a trailing stop loss in place (manual)?

[Hibiscus]

Yes, I am follwing the thread of Firefly and agree with your argument re futures. Warrants you know upfront what you are prepared to loose - as for futures you need to be at your desk full time. That why I stay away from futures and why I am where I am, now!

[john_1]

Whats with everybody asking my advice. I told you if I knew the answers I would be sailing in the Indian ocaen with my trophy yaught already. I think that you have payed school fees well done now learn the leason, now go and prosper.

[Hibiscus]

Bye Bye John

[john_1]

Next week mate.

[TJH]

Hibiscus: I wouldn't go long on any other longer dated warrant. As someone once said, when the Titanic is sinking you don't want to find the safest place on the ship - you want to get the f***-off the ship. The next crack is still coming. Soon.

[org]

see www.gold-eagle.com click on box technical analysis, also see www.mahendraprophecy.com.