Would appreciate views on tight trailing stop losses. I had on BIL, AMS and SOL this week, and they kicked in Wed & Thurs, with the result that I sold on a temporary intraday dip, and all three now sit above where I sold.
I presume u are trading derivitives....each trader has his own circumstances so no one can prescribe what u should do....If it were me as the market is changing to an upward phase(which can be seen by the regression line on the charts) i would put inplace tight ALERTS ON ALL MAJOR SHARES that i hold and lower the stop-losses to 20% beneath my holdings ,in case something major going wrong....as always only my opinion.
Platsak...its your call....MTN could still run up to 135 or it could tank as it is now OB on RSI and Stoch. MTN's ATR is currently running at R4...you could set your stop as a move south greater than R4. As for me I would wait for a reversal day down and only close out after that with a R4 ( 1X ATR)fail safe in the system.
I trade SSFs mostly and have wiped out. So I'm giving you a bit of advice which I never follow myself (hence the wipeouts). . . . . Just take the money . . . a profit is a profit. Greed has undone my trades more often than not.
look at YOUR system and rules. take profit based on that. I have taken profit on many trades only to look back and say if only i waited, I could have doubled my money. Latest I bought BIL at 178, sold and 189, and made a good return, and then it went up to new highs, but that was my call. On the contrary, I have waited for higher returns only to have all ly gains plus some more wiped out the next day on volatility. Bottom line, keep to your tarding system, and take when you deem right.
i am a secondhandbroker that buy and sell anything. for x i buy product and sell it to a mine. a buy a share the i sell it. the thing i learn is your first profit is your best profit. never sell for a less. even if it take 5 years. put R10000 in the bank and you make nothing buy something u can sell in 5 years for profit. if your share weeken dont sell it, put it in the store room and one day someone will buy it and the you make the price.
Platsak, I was going through the posts and I would have said take the cash. The signal is not exactly sell but pretty close so no use gambling for a few cents extra. Rather enjoy ash and get the small interest OST will pay you ;-)