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The S&P 500 is testing key support, yields are rising and the market looks vulnerable with 64.2% of stocks falling Thursday, everything is red — let’s see if there’s a comeback today and a strong push into the end of the month and more [tap to join us for the Daily Profit Plan]!
Let me walk you through something that might sound counterintuitive at first, but it’s become a cornerstone of how I manage trades. Let’s start with an example…
Recently, I had three butterfly spreads working with maximum profit potential of $1,500, $1,750 and $2,350 respectively. That’s serious money if everything hits perfectly. But here’s the thing — I’m consistently looking to close all three positions when my net profit hits just $200 to $400.
I know what you’re thinking…
Why would you walk away from potential four-figure gains for a few hundred dollars?
The answer comes down to probability, psychology and protecting what’s real versus chasing what’s possible. Most traders underestimate how much their stress level sabotages their decision-making.
If you’re getting antsy about your profits, take them — you don’t need permission from anyone. It’s your money.
That kind of self-awareness is a major part of surviving long term in trading.
The Math vs. The Reality
I’ll be the first to admit — I’ll kick myself in hindsight if one of these turns into a $1,500 winner after I’ve already closed it. That’s just part of the game. But holding for that perfect pin price means the probability decreases significantly the longer you wait.
What matters more is stacking outcomes that work consistently, not perfectly. Over the years, the win rate on Daily Profit Play setups has hovered around 90%, and that consistency means far more to me than one big hit that may or may not show up.
My approach is simple…
I monitor the total P&L across all three positions rather than fixating on individual trades. Throughout the day, I’m doing spot checks on my broker platform, looking at one thing — is the combined total positive?
Sometimes that means I have one position up nicely while another is down and I need to let things marinate a little longer before making a decision. It’s not about forcing a win, it’s about letting the structure of the trade do the work.
I also stay aware of the broader price levels I’m watching that day because market behavior around those levels determines whether I hold a little longer or lock in early.
If price is hovering near an area I’ve identified as meaningful, I’m far more selective about when I close or adjust. These small, real-time reads often make the difference between a scratched trade, a modest profit or a larger controlled win.
Know Your Own Risk Tolerance
Here’s something I tell traders all the time…
If you’re getting nervous about your profits, take them — you don’t need to justify it to anyone. Understanding your own psychological comfort zone is absolutely critical. Some traders are wired to hold for hours, some get tense after five minutes and both types can be successful if they respect their limits.
The reality is that if I’m waiting for the perfect pin at expiration, I’ll let the losses close as losses and ride the winner as long as possible because each of these butterflies has the potential to pay for all my risk.
But most of the time, I’m prioritizing the certainty of locking in that $200 to $400 net profit rather than hoping for the perfect scenario.
This isn’t about being conservative or lacking confidence in my setups. It’s about recognizing that perfect execution — being within zero to three points of the ideal strike — feels awesome, but being within seven to eight points still delivers solid profits without the stress of holding to the close.
The trade-off is clear to me…
I’d rather walk away with consistent, protected gains than chase maximum theoretical profits that depend on everything going exactly right.
I’ll see you in the markets.
Chris Pulver
Chris Pulver Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. Wall Street Says the MAGS Are Officially Dead…
Wall Street analysts are officially declaring the Magnificent Seven, or MAGS as I like to say, dead.
They claim the tech giants are decoupling. They claim AI spending is getting out of hand…
And they believe the big tech run has finally run out of gas.
Look… they might be right about the stocks splitting up.
Or they might be dead wrong.
Either way, Q2 earnings are hitting right now… and the price action is about to get wild.
If you’re sitting at your screen trying to guess whether Nvidia, Apple or Tesla swings higher or lower on earnings day… you’re basically flipping a coin with your account.
Because this time, the market is playing by a whole new set of rules.
While everyday traders stress over picking sides, Lance, Roger, Emily and I decided to lock ourselves in a room and map out this entire earnings blitz together.
We put our best ideas into a complete Mag 7 Earnings Playbook before our upcoming July 28 roundtable event.
Inside this free guide, we rank all seven tech giants based on post-earnings profit potential… reveal which single report will trigger the next leg of the AI trade…
And highlight the No. 1 announcement that could impact the entire market.
Best of all?
We show you how to set up what I call the “two-way profit trade.”
It’s a simple setup designed to help you target profit from these massive earnings moves without ever guessing if the stock goes up or down.
As long as the stock moves, you can get paid.
No direction guessing…
Just a straightforward plan for the upcoming earnings chaos.
We’re handing over this full playbook for free to you when you reserve your spot for our Roundtable before July 28th.
Be sure to grab your free Mag 7 Playbook and lock in your Roundtable spot before Tuesday.
