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Do I take my profits and run or use a trailing stop loss

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Regular Contributor
Just thought to throw the question out there, LBH is almost at my profit target. I ussually take the profits, have a beer and then move on. This one might have leggs to it, if I decide to use a trailing stop loss rather than the usual beer, how would you advise I calculate the trailing stop loss?
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9 REPLIES 9
Valued Contributor
you have a plan ?? it works ?? why change it ??
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Super Contributor
make sure your trailing stop loss is on or close to market close, because the wicks on those candles are ugly.
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Regular Contributor
Thank you for the comments then beer it is.
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Super Contributor
the exit is always messy ...and at times painful, so need more than beer to drown the sorrow...the rules for exit must be about the same for the rules for the entry. Taking a small profit here and there and running will not make you rich.You have to ride out the trend...
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Regular Contributor
I am making a profit, so the beer will be in celebration. You comment is valid. I will stay with the beer though, the share is about 200 away from my original exit strategy.
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Super Contributor
great, but the trend is strong, why not ride.will be painful if this trend continues and you could exit at double your profit. I always, keep the last third in the trade at breakeven...
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Frequent Contributor
I don't use any stop losses I would have been cleaned out today with the drop in GLD. This little gem has increased by a 176% since I bought it in 2007.
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Super Contributor
so when do you exit if the share is going in the opposite direction?
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Regular Contributor
I just thought to moan a little. Here I am busy working in Botswana with all the confidence in the world, that I will be able to afford that cold beer I posted about a few days ago. It closed 6c away from the profit, why not just go that few cents and make a bloke happy? Ag but the market is always right, price is king and beer will always be there.
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