Learn how to effectively manage butterfly trades and get a new trade idea in this video, states Danielle Shay of Fivestartrader.com.
I will walk you through a layered trade and show where I take profits on my butterfly after it hits targets, but I decide to hold my long calls. I also add another butterfly with a higher price target. I took about 45% profits on my fly in a few days on this honey badger! This is a great example of how I layer trades and why, in addition to how I add to winners.
Learn more about Danielle Shay at Fivestartrader.com.
