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Since your Colt is a post-1972 gun, a limited amount of +P ammo will be OK.

With that in mind, the all time grand champ of .38 Special ammo is the +P 158 grain, lead, hollow-point ammo, variously known as the FBI, Chicago, St. Louis, New Orleans, LAPD, etc. load.
Also known to cops as the .38 caliber SPLAT. (For the sound it supposedly made hitting the bad guy).

A good second is the 125 grain jacketed, hollow-point.
 

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try the Chicago load. They are still produced by Winchester. And they work as advertised. The FBI loved them.


For a practice load get some lead swaged 158 gr HPs from Speer and 5.0 grs of Unique and it shoots to same point of aim at standard pressures.
 
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