$FXE: 2/15 Sold to open iron condor for .79 14x so net credit of $1077. 123/126 - 133/136
Now closing it for almost full profit. will cost pennies to close and order is open.
Recently, $FXE ran up and crossed my upper limit of iron condor.
I didn't close it because i still believed in my thesis: Eurozone still in trouble and dollar is not.
I held my ground and it payed off.
LESSON: When you have a short spread position and market runs against 1of your legs. Before you act ask yourself this:
Do i still believe in my thesis (reason why you put the position in the first place)? or will you put this position on again knowing what you know today?
If yes, then don't close it. maybe even add to it (press it; loosly similar to averaging up/dwn).
It's important not to panic when short spread limits are violated as long as you don't use 'hope' to justify your wait.
$AAPL $SPX $NDX $RUT $C $GS $FXE