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Yeah, and to take a even bigger risk and a bigger reward, you can clone 5 pokemon at a time to get the item 5 times. Riskier, but is faster and pays off
You just have to pay attention and know what you are doing. That happened with my
Lunatone; I traded a Lunatone from my Sapphire before I reset it, and I gave it my only Master Ball to clone both of them, and I messed up and lost my only Lunatone AND my only Master Ball. GRRRRRRRR!