There’s really no other way to say it. While the S&P 500 and Nasdaq have continued to print fresh all-time highs, day after day, my open positions have been quietly—and not so quietly—bleeding. What were once fat, satisfying profits have turned skinny and wobbly.
It’s a first-class problem, sure. But it still stinks.
This is the cost of trying to ride trends for truly meaningful gains. There is no magical alert that tells me, “Hey, this is the perfect time to get out. The top is in. Sell now and lock in that win.” Wouldn’t that be nice?
But that’s not how it works.
Instead, I find myself watching formerly robust profits evaporate in names like $QS, $GLXY, $CARR, $OUST, $UBER, $ASTS, and a few others I’d rather not mention right now. Positions that had been doing all the right things—breaking out, trending, pulling away from bases—have now given back a big chunk of those gains.
This is the hardest thing I do as a trader: hold on to winning positions that start pulling back. Because the question always creeps in—is this just a normal dip in an ongoing trend… or is this the end of the line?
And the truth is, I don’t know. I never know. How could I?
This is where the second-guessing begins. The doubt. The inner negotiation. It’s like every candle on the chart whispers a different theory.
But this is the game.
If I want to capture the kinds of moves that change my month—or my year—I have to give trades enough room to run. And sometimes that means sitting through discomfort, watching open profits shrink, resisting the urge to act out of fear.
I have to remind myself: I will never sell at the top. No one does. The top only reveals itself in hindsight.
The key is sticking to my process—managing risk, adjusting stops if needed, and staying as emotionally neutral as I can. That’s how I win this particular battle. Not by being perfect, but by being consistent.
So yeah, this week has suuuucked.
But I’m still here. Still in some winning trades. Still fighting the good fight.
Sean McLaughlin | Chief Options Strategist, All Star Charts
