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What strategy/method do you use to determine when to exit a stock?
Posted on 4/20/17 at 9:50 am
Posted on 4/20/17 at 9:50 am
Do you have an exit target before you buy?
I feel my biggest weakness as a trader is holding on to stocks too long.
I feel my biggest weakness as a trader is holding on to stocks too long.
Posted on 4/20/17 at 9:59 am to barry
% gain. 35 - 50% gain I sell half.. 100% gain I sell half again and then let the rest ride until I see a major trend shift. I do this for options as well.
Posted on 4/20/17 at 10:08 am to barry
trades? 15% down on options, I'm out but if its an investment, I hold.
A lot of it depends on market trends also..
A lot of it depends on market trends also..
Posted on 4/20/17 at 10:10 am to barry
rule #1 of trading: Don't make a trade an investment. Its hard but that's reality.
Posted on 4/20/17 at 10:11 am to barry
quote:
Do you have an exit target before you buy?
I feel my biggest weakness as a trader is holding on to stocks too long.
I'm with you. For the most part, I've had terrible timing on sells. Part of the reason might be is I don't have a set strategy. I go on gut feeling along with the want/need to put the money in a different stock.
Posted on 4/20/17 at 10:30 am to 632627
This problem seems to be a trend in my life i noticed. Staying at jobs too long, holding on to fantasy sports players too long etc. It was quite disturbing once i noticed how much it proliferated my life.
Posted on 4/20/17 at 12:45 pm to b-rab2
quote:
rule #1 of trading: Don't make a trade an investment. Its hard but that's reality.
+1
The hardest thing for many/most people to do (even professional traders/investors, e.g., Josh Brown and Twitter or Bill Ackman and Valeant) is admit when they're wrong. When you see people talk about a trade, and then once it goes south, they start saying things like "dollar cost average", "double down", "gotta get even again", that dog has turned into an investment. And it very seldom ends well.
I've done it myself. And so I try to use trailing stops as it moves up (or down on shorts) to protect profits, or enter (in my mind or in reality) a stop loss of X%, depending on the historical volatility of the instrument.
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