I HOPE THIS SHARE GOES UP TODAY

[BABYBOY]

Does anyone have an idea if it will reach the 14500c mark today. is it possible.... maybe or should i pull out now cause im already about +200% on one of the American call warrants.?

[Tango]

a 6% move today is a lot to ask of any share. I don't know what instrument you are trading, but you should work out what your time-decay is over the long weekend, and then decide whether you want to hold the position open

[BABYBOY]

what if my time decay is ends today. do you think i should wait until about midday to sell or do you think 6% is the max high for GFI today?

[Brazen]

We're waiting Tango. Is 6% by midday the max or should I hold until 2pm?

[SimonPB]

is it possible - yes. Is it probably - no. Further asking if people here think it will rise 6% is well useless as they have no idea. All you can hope for is that another punter also long says yes, but purely based on hope. Truth is nobody knows until 5pm today.

[BABYBOY]

thanks simon gonna sell some as soon as the market opens...

[SimonPB]

err didn't say that either. Point is to make your own choices and taking a fat profit never bad.

[BABYBOY]

point taken. thanks

[kr_pto]

BABYBOY, just in my opinion, but it seems like you need to figure out your money management strategy. When you put in a trade, you should know what your target is, and at least take some profit at that target. then at that point maybe consider putting a stop loss at least just above your entry point for the remainder. that would imply that the remainder is cost and virtually risk free. if you dont have a plan to manage your money, you will become very frustrated seeing profits you left on the table disappear. rather feel good about having left some on if it continues up, plus you would feel good about taking some off if it heads down.

[Day_Trader]

Agree with kripto. Was trading at BOE before and they have no electronic stop losses - unlike STD. So I did well in the beginning but eventually lost 100k!! So no more trading without stop losses - especially if you have reached target price - sell at least 50 -75% of holdings and keep the rest with a stop loss attached. Protect your downside that way but leave open the upside.

[macG]

guys this it very informative, thanks

[BABYBOY]

thanks guys, i will use the stop loss system. should i mainly use the fixed or trailing stop loss???

[SimonPB]

shoter term more aggressive trading generally better with trailing.

[kr_pto]

just be aware too that stop loss execute based on ruling price, so on something like warrants they a bit of a problem as the warrant may not be traded at each cusp/price level. so could drop way past your stop loss. in that case, can use alerts on the underlying and manually trade out of the warrant.
also beware of the minimum limits you need to put on to the stop loss setting, so that it doesnt trigger and then sell way below your stop. basically, read up and understand stop losses carefully before using them.
simon, out of interest, how do you work your stops on warrants, due to the issue I mention above?

[Tango]

Baby, your stop-loss needs to be a RULE. How you implement that rule is up to you - you can do it manually, you can leave instruction with a broker, you can use an automatic stoploss.. Please attend one of the SFM courses or pick up a decent trading book if you don't currently have a trading plan. You need to have a system for entries and exits, a money-management plan, and some understanding of trading psychology.

[Day_Trader]

Yes Simon - would also like to know?

[SimonPB]

sms alert on the underlying (using the matrix for reference) then I action. A manual process but most effective.

[kr_pto]

i assume you have to keep updating alert due to the time decay and the change in the delta of the warrant (hence changing the underlying price at which stop would occur)?

[SimonPB]

yip, an it being a trailing stop that also changes.

[kr_pto]

darn, that takes a bit of laziness out of the system, ey?! ;)