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Online Share Trading

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Decision time

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kwagga
Super Contributor
This is where you need to make a decision as when to exit. We are nearing some resistance levels on Har and the gold price. I am up 20% + on Har in just over a week. Do I - 1.Lock in some profit i.e. take say 30% off the table, wait for some consolidation and buy again 2.Let greed and excitement get the better of me and just let it ride 3.Adjust my stop loss to yesterday's high -10% and sit back and wait for the market to stop me out.
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13 REPLIES 13
Not applicable
Cash is King!
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SimonPB
Valued Contributor
why stop at the high less .. why not below yesterdays low ??
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Preston
Super Contributor
Realised profit is so much better than fictitious gain. mmmm i need to take my own advise sometime.
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For what it is worth, I use a system that if we close at or close to today's highs, then I let it ride. If I have made profit target, and the close is less than about 70% of the high, then I take profit. It is better to take profit when the spreads are tight than in a falling market where spreads widen, IMO.
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Ninja
Super Contributor
The daily's are reaching resistance and OB conditions, however the weekly's are only getting going.....could be more upside to come if yuo can hold through small corrections.
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Wizard
Super Contributor
I wonder how trustworthy is this movement in Gold Shares. It just looks like a spike in the middle of nowhere. Although it is the right season for them to move
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kwagga you gave me some good advice some time ago on agl.follow that and u will be fine
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Not applicable
Kwagga, I sit with the same choices. I am in GFI and bought at 22/23 & 24 (Ave 23c) . Now sitting at 40/41 I am up about 60%. Working on pure sanity I would say leave the rest for the wolves and keep the cash. But the temptation to extend it to 70 or 80% is far to tempting. I am gonna wait for US to open and see what direction we take and then put or pull my chips.
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Not applicable
There are a lot of speculators in the same position. (Look at recent volumes.) If some hold and others sell, which way will the price move?
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Blik
Super Contributor
No one got poor from taking profit.
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Hibiscus
Regular Contributor
Never sorry yourself for taking profit to early. The profit level should be defined before entering into the transaction but then again reviewe your tacticts and/or strategy continuously; scientifiic
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BAP
Regular Contributor
Took profits twice on Har before the last two days' run and gold eventually breaking 1000. For fear of losing out on a good gold run, I got in again at 8700 but this looks like a mistake now! Gold barely holding on to 1000 level and gold shares dropping or is this only an afternoon breather?
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Ninja
Super Contributor
Looking at GFI I see a clear grave stone doji / reversal day candle with RSI and Stoch OB. I would bank 50% profits and if the gold price rallies overnight you still have exposure to the move, if the price crashes you have limited risk.
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