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Community


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Online Share Trading

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RESOURCES

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Super Contributor
So I hadn't touched resources for over 18 months and then about a month ago, tired of watching my portfolio going sideways, I dabbled and even went against all my trading principles and dabbled in gold. Now the conundrum is whether to sell at my target which has nearly been reached or let it run with tight stop loss?
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36 REPLIES 36
Super Contributor
I would sell two thirds at targets and let last one third run with the stop loss(which must be at minimum , at break -even )
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Super Contributor
I think the golds are going to come off atleast 20% from current levels.. It went up in a straight line practically
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Super Contributor
Thanks gents, it is so hard to sell something that is on the rise (greed) Me thinks another read of Trading in the Zone is necessary!
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Super Contributor
Buying is easy - a pleasure even. Selling is hell... even after all of these years.
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Super Contributor
Hope you sold out yesterday
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Super Contributor
Nope Agl, Kio still running like a bull and Sgl hovering above stop loss
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Super Contributor
On the golds I meant.. What you reckon is when AGL should have a correction..7 straight sessions up?? Whats your price target there, am also in AGL
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Super Contributor
My exit strategy is always a trailing stop loss and I trade the price, I try not to get into fundamentals or reasons. The problem with the resources is that they bounce like a rubber ball so it can get tricky and easily stopped out
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Super Contributor
That's the thing.. how do you use a stop loss as these things have a spread of +/-10% a day from lows to highs..so its very difficult as it drops to like 100 and then in an hour bounces back to 110.. so you risk getting stopped out for nothing
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Super Contributor
Yes that is exactly the major flaw with my strategy so I put out an alert and then watch it like a hawk, obviously if aircraft fly into buildings then I will be sorry that the stops are not in place!
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Not applicable
why should a 10% move be a concern. If you know that is their average true range, then put your stoploss at 15% and aim for a 30-45% gain?
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Super Contributor
Practical example - You Short AGL now at R110, it goes up to R120 , your stop loss is R125, tomorrow it goes to R130, do you still maintain the same R125 stoploss?
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Super Contributor
Why have a stop-loss if you going to move it every day, if it is set at 125, you would have been kicked out by the time it got to 130 and would not be negative by that extra 5 a share.
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Contributor
Anyone got a take on KIO, is it gonna keep moving on up from here with the iron ore pricing strengthening?
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Super Contributor
weekly and monthly charts all pointing in the right direction so who am I to argue.
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Super Contributor
A target on AGL please, am getting nervous
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Super Contributor
Yesterday, it banged its head hard on the 200 day moving average(information courtesy of a twitter user). It needs to power its way through the 200 day MA.
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Not applicable
here is a target for you - come up with your own trading system and stick to it. If you have to keep relying on the opinions of others as to when to get in and when to get out of a trade, you are going to lose money hand over fist. What are you going to do if one forumite tells you to stay long with a 50% profit target and another tells you that the run is over, take profit? Remember that their are buyers and sellers in the market - so by definition there are at least 2 parties with conflicting views. You absolutely need to have your own.
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Super Contributor
You right, am out..
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