I got one thing to say, hope is not a strategy. So why am I saying such an obvious thing? A cliche that we've heard probably many times already. And if you haven't heard that well, sit back and just think about it. Hope is not a strategy. Hope. Is a losers way losers think. Now don't get all religious on me and tell me that.
We all have to have hope
...or faith, maybe hope, no hope is only what you do after you have realized that all is lost given up. Don't try anymore. So the reason why I'm talking about it, Some some members had asked me what's the exit strategy or any on today's trade. The position that we're in right now, As the trade stands right now is that, we're up about 70 to a hundred percent, depending on where you got your position in.
And by all accounts, that is a fantastic return. But it's still from our point of view is well below our average, which is generally above 150%, sometimes as much as 1500%. If you have just one contract or one position, a minimal size position, then your strategy is very different from somebody who has say 50 positions, right?
Obviously you have different size accounts as well, but the person with a lot of positions has many more. Options under their belt. But even if they have say five positions, again way more options than the person with one. So if you're not going to go into this with hope, then you should have a strategy, a real strategy.
If there's just one position, can you risk sitting there or do you want to risk, can you risk is another subjective thing. Do you want to risk sitting there and possibly lose that 70 or 80% return for the chance of making 150%? And that might be a very real strategy and a good choice or bad choice only because of the way our trades are asymmetric in nature, where we have very small risk to potentially very large reward.
So it may be an okay choice. But it's probably a more prudent choice for the person with few positions to take what they've got and then move on and then wait for the next time. And maybe the next time will pin a trade, and you make a thousand percent.
Now the person with a lot of positions, they have many more options, they could do something like maybe take two thirds of the positions or even four fifths of the positions off right now that would leave the remainder positions such that even, if they went to a full loss, you would still have a winning day.
And let them ride, let them take a free ride for glory. And then there is a possibility that we might end up pinning the trade today with those two and they could do marvelously. So with more positions, you obviously have more options and there's no hope involved here. No hope at all.
It's all strategy. There's a little bit in this. I should say there's a lot, a bit of discretion. And much of it comes down to your personal capacity for risk and your tolerance for risk. Your capacity is the objective amount of stuff that you can take risk with, right? The tolerance is your gut, what you can stomach.