casinotech
26 posts
msg #97136
- Ignore casinotech |
10/21/2010 5:30:20 PM
Hey guys, I would like to know what everyone sets there profit stop at. I am making about 50 trades/month and since using stockfetcher I have not had a loss yet. The problem is that sometimes after I sell the stock moves up more and I hate leaving money on the table. Just wanted to know how everyone else does it. Also, what stop loss do you use. TIA
|
dwiggains
444 posts
msg #97137
- Ignore dwiggains |
10/21/2010 5:35:11 PM
Sounds great
Care to share your filter.
Thanks
David
|
duke56468
683 posts
msg #97139
- Ignore duke56468 |
10/21/2010 9:19:13 PM
You might try selling half the position at your profit stop and moving the other half to break even with a trailing stop. That way you still have a winning hand and the option to ride the big winners up.
|
jimvin
173 posts
msg #97140
- Ignore jimvin |
10/21/2010 10:03:37 PM
Don't use a profit stop; I use a trailing loss of -5% to -8% depending on how I feel about the market. O'Neil recommends 8%; others say 10%. Note that I also buy on Monday and sell at the latest at 3pm Friday, no matter how strong a stock is.
|
davesaint86
725 posts
msg #97146
- Ignore davesaint86 |
10/22/2010 11:51:49 AM
http://smartstops.net/
Dave
|
four
5,087 posts
msg #97178
- Ignore four |
10/24/2010 12:55:03 PM
http://www.swing-trade-stocks.com/exit-strategy.html
|
novacane32000
331 posts
msg #97179
- Ignore novacane32000 |
10/24/2010 1:31:41 PM
Jim-What is your reason for selling on Friday and have you found an advantage in using this strategy?
My guess is ,you dont want a weekend event to shock you.
|
jimvin
173 posts
msg #97223
- Ignore jimvin |
10/27/2010 10:37:47 PM
This is long, but I'll try and make it an interesting read. I'm in my early 50's (feeling more like 30s, but facing the financial reality of being in my 70's someday, with a wife and 25-years on my mortgage mortgage)...as a result I am trying to make a lot of money relatively quickly. I prefer momentuum-type models which if played well, offer very substantial returns. As a result, however, I never hold longer than I need to to get a (relatively) decent profit. I've found that, in general (in the market we've had since January of this year) , the stocks I pick do well when bought at Monday open (perhaps the optimism of the new week), but peak between Monday and Friday. The pattern I;ve seen is that in this market no big traders (the ones who move the market) want to hold long-term; its "Get your profit and get out." So, figuring that 2% a week on 100K will make me a millionaire in about 2 years, I set a reasonable profit-take of about 3% to 5% (figuring trading fees and taxes) and a stop-loss to hedge my bets. Since I work full-time, I can't watch the screens like a day-trader; I set up my trades Sunday night and let them roll. (I'm not very religious, but a prayer helps too). This isn't eveyrone's style, and I would never invest money I couldn't lose (I'm only investing about 25% of my savings, and NOT any IRA or 401K monies), but its a calculated risk that's working well so far. And if you've read all of this - thanks!
|
casinotech
26 posts
msg #97253
- Ignore casinotech
modified |
10/30/2010 7:44:50 PM
Thanks Jim. I like momentum stocks and have been selling when I am up about 2 to 3 percent. Many times the stock moves up another 5 to 10% and I get mad at myself for being impatient and selling to soon.
I have decided to try and get a minimum of 5% on my stocks. I now set my profit stop at 5% above my purchase price and so far it has worked well. Thanks for sharing your strategies and good luck with your investments.
|
jimvin
173 posts
msg #97270
- Ignore jimvin |
10/31/2010 9:50:06 PM
Happy to be of help. One last note. In the last 10 years I haven't found one filter that will work with absolute consistency in good times and bad; I look constantly for new filters to tweak and try; what worked 3 months ago (for me) is working sporadically now. If you find a filter your like and it works now, go with it...but don't stop looking. And good luck in all of your investments!
|