I heard many many investors or (players) advice you to set your sell target price as soon as your buy .. and not to be greedy! ok fine that sounds reasonable .. but on what basis you set your target sell price? you can't just go and say .. ok i will buy this stock for 10 cents and i will sell it for 30 cents! how do your choose that target price .. i'd like to hear this from as many of you guys as possible .. how do your choode your target price? especially alot of your just jump on the runners
Posted by poorman on :
I'm sure you will get different answers to that question. Myself I shoot for 30% so if I bought for .10 I would put in a sell for .13. If I think it will keep running I will sell only part of my shares at that. Of course if it looks like its stalling I will get out for less if I have to. Alot of what you are asking depends on how much money you have in a stock and how much you can afford to lose. You should never put more into a stock than you can walk away from if it goes bad. If you ask around you will find that except for a few lucky people most lost their first investment or at least a large part of it ( I know I did ) and that is the price you pay to learn so play with small amounts,take your small gains untill you build up your account and don't get greedy.
Good Luck Trading
Posted by Machiavelli on :
you set yourself a stop/loss... like if i buy a stock at 1.00 and it shoots to 1.25 for the day... i would set a stop/loss order about .25 cents below the high for the day.. so if the high was 1.30... my stop/loss order would be 1.05... and if possible make it a trailing stop/loss.. if not change it manually as the stock goes up on a daily basis.. if it doesnt go up leave the stop/loss and let it take affect (market order) if the stock hits your stop/loss.. if you dont know what a stop order or stop/loss is i would suggest you read a book on trading before you go any further (dont trade for now and self educate yourself on trading).. below are recommendations for swingtrading...
A Beginner's Guide to Short-Term Trading by Toni Turner ... www.toniturner.com