From Jeff Clark, Editor, Delta Report:
It’s fun to profit on a trade when you’re right. But it is even more enjoyable to make money when you’re wrong.
Smart traders know how to set up a position to profit no matter what the outcome. Let me give you an example…
I recommended several trades a while back on AMAG Pharmaceuticals (AMAG). One trade made 19% in just five days. Another trade earned 29% in a little less than two months. But the most profitable outcome was a gain of 42% in four months… and I was wrong on the trade.
In early April 2016, I recommended a position in AMAG at about $27 per share. It was a fundamentally cheap stock. And the technical pattern looked bullish. So I was willing to bet the stock would be higher in a few months.
I was wrong.