Question for SimonPB

[keng]

Simon Many years ago I had the good fortune to attend one of your excellent trading courses here in CT. I think you were with SB at that time. You recently commented on short term gains. "you need to plan an exit strategy before you enter .. and stick to it .." Is there a course on when and how to exit gains? A loss is easy to handle as one simply decides on the pain threshold and sets up the necessary stop. I find gains more difficult to handle. e.g Initial goal 10% a)It reaches 9% then falls. Why oh why did I select 10? b)It reaches 10% then become greedy, then as above. c)Take the full profit and watch the ***** skyrocket the next day. d)Sell half. As in C above. Are you suggesting that one ALWAYS exits the full position or ALWAYS leaves some on the table. The above assumes there is no news on the share

[SimonPB]

agreed, selling at profit way harder then at a loss .. I always let the market take me out, so lower low is my preferred and I try and ride the trend for as long as possible .. 10% profit simple not enough reward for the risk of a trade and if given time hundreds of percent the ideal (CPI /SHP/WHL recent year plus trades of hundreds of percent)
lower low video at http://www.justonelap.com/webinarDetail.asp?intWebinarID=35

[keng]

Simon Many thanks for the reply. Am happy to hear that I am not alone in my dilemma. I always watch summit when you are on. Do you still offer courses? Since I have retired the wife is always pushing me to attend equity training. Ken

[SimonPB]

I do trade well and futures trading courses for OST and other ad hoc which are either mentioned on my website or twitter .. www.simonbrown.co.za