Taking Profit

[#1]

Somebody(sponono?) asked the question the other day if you always take profit only at target. I incorrectly said I do most of the time.
Realized today its not as often as I think, but only with my discretionary trades. With mechanical trades Im like a robot.
My problem is that Ive learned so many analysis techniques, fibonacci, trend lines and other indicators, that I can always find a reason to exit early (or enter).

this is something I need to work on this year...
Any advice?

[Preston]

My technique is very simple. I have a desired profit level. Once that level has been attained, i have another indicator that i use. Once i find that indicators is losing strength, i sell immediately.

[#3]

is your desired profit level the same as your target?
with me its not, thats why I exit early (I think).

[Preston]

Buy this book from Kalahari, it has really helped me with my trading. http://www.amazon.com/Investing-Volume-Analysis-Identify-paperback/dp/0133381048/ref=sr_1_3?ie=UTF8&...

[Preston]

Most of the time, but sometimes i do fall short and i do exit early.

[#6]

thanks, Ill have a look

[sponono]

...and when you do a post mortem do you find after your profit target has been met does the stock collapse or merely consolidate for a few weeks and go in your direction even more.....

[Preston]

65/35 Split

[sponono]

65% it collapses?

[#10]

It often reaches target but without me.
I think I still have it my mind the days that where winning trades turned into losers. That fear still haunts me...

[surfer]

Should we not block the performance of the stock after we have sold out of our mind.Perfect trades are a luxury and if we hit target it has done well? Keeping a third back helps if the stock goes in your favour after sold

[CHATTYCHAT]

No - because experience counts. What has to be blocked out, is the urge to replay the decision and non desired result, which is a counter productive exercise. (All humans suffer from this urge. It's like chanting "if only I did this, not that...")

[Preston]

yes

[Preston]

I have this concept called "Game over" . Any subsequent appreciation does not bother me.

[Cedric_1]

No advice, but when you find the answer please tell me!

[Preston]

Cedric, there is no right answer.The only correct outcome is profits.

[Rams]

the exit is always messy because you want the market to do what you thought it would do before exiting...deal with it by being prepared to re-enter rather than letting the previous trade distract you