Dykstra: Don't Ditch a Good Thing

Except for aircraft that run afoul of geese, the Detroit Red Wings and I don't think you always need a way to ditch if things go sour. That's why the Red Wings offered reliable goal-maker Henrik Zetterberg what amounts to a lifetime contract -- adding 12 more years to the six years he's already played with them.

Zetterberg has averaged almost a point a game this season -- 43 in 45 games. That doesn't mean he'll always perform to that level -- but the Red Wings aren't looking for an exit strategy if he doesn't.

Sticking with a good thing through rough patches is part of my deep-in-the-money call options strategy. Some investors leave the exit door open by setting stop-loss orders, which are sell orders that are intended to limit downside risk on specific positions. That leads me to today's question from a subscriber to my Nails on the Numbers newsletter.

Do you have a set time or price level to get out of a bad trade? Do you use stop-loss orders? ...