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What is your TP and SL? What's your win ratio?
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[QUOTE]Originally posted by permanentjaun: [QB] [QUOTE]Originally posted by Machiavelli: [qb] [QUOTE]Originally posted by T e x: [QUOTE]The way I see it, even if you're right in the direction of the stock, it can be hard to gauge how far it will continue to move.[/QUOTE]is why I say study historical charts...may not work out, but when you find a match...bingo. [/QUOTE]There is no reason to sell out of a stock that is in a clear uptrend. I am currently in a stock in a nice uptrend (no i won't name it and jinx myself lol)and if I thought like everyone else at getting out at 5, 10 or whatever % I would of missed the profits I have already gotten. Problem with people is Emotions. They see a pullback they immediately get nervous and panic sell. Let your profits ride and cut your losses has always been my motto. People need to learn the basics first such as charting. Alot of people nowadays if you tell them to draw a trend line on a chart they will give you a blank look and say eh? . That is why i advocate Trend Following and Toni Turner's books (especially the trend line chapters) to learn the basics. [/qb][/QUOTE]This is all true, somewhat. I don't necessarily agree with there being no reason to get out of a stock in a clear uptrend. Let the winners run, cut the losers. In building my strategy I'm trying to make it as simple as possible, and eliminating as much emotion from the process as possible. The reason I like the 5% idea is because it is a basic exit strategy. In letting the winner run, what is the exit strategy? It can become harder to build exit strategies that remove emotion. A trailing stop perhaps, but I don't like those. Besides, five 5% plays compounded is more than one 25% play. [/QB][/QUOTE]
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