frtaylor - when the market is melting up on light volume I think
you need to focus on your objectives versus looking for targets.
In other words, trade it in accordance with your goals while
implementing risk controls instead of relying upon 3rd party
targets.
What I mean is that you need to have a plan when trading.
The plan should be constructed based upon your personal
objectives and risk tolerance. Finally, you should then trade
in accordance of that plan.
Posted by frtaylor on 22nd of Dec 2010 at 02:06 pm
well, I don't call that going wrong, just being prudent. I do
have a stop in so that I will keep half of what I'm up so far.
That's a strategy of sorts, I guess.
frtaylor - when the market
MON - pls help w/ targets
Posted by steve on 22nd of Dec 2010 at 01:24 pm
frtaylor - when the market is melting up on light volume I think you need to focus on your objectives versus looking for targets. In other words, trade it in accordance with your goals while implementing risk controls instead of relying upon 3rd party targets.
Oh, I'm not sure what
Posted by frtaylor on 22nd of Dec 2010 at 01:55 pm
Oh, I'm not sure what you mean. I guess maybe sell half when it hits 5%? something like that? Thanks.
What I mean is that
Posted by steve on 22nd of Dec 2010 at 02:08 pm
What I mean is that you need to have a plan when trading. The plan should be constructed based upon your personal objectives and risk tolerance. Finally, you should then trade in accordance of that plan.
seems to me you don't
Posted by Palladin on 22nd of Dec 2010 at 01:58 pm
seems to me you don't have a clear strategy. If in doubt and ahead of the game, sell some!
JMO
Yeah, I am still on
Posted by frtaylor on 22nd of Dec 2010 at 02:00 pm
Yeah, I am still on the steep end of the learning curve w/ trading. Can't go wrong selling some, or so I've heard.
if it keeps going up
Posted by Palladin on 22nd of Dec 2010 at 02:02 pm
if it keeps going up after you sell, then you went wrong! happens to me all the time BUT it's better than giving it back!
well, I don't call that
Posted by frtaylor on 22nd of Dec 2010 at 02:06 pm
well, I don't call that going wrong, just being prudent. I do have a stop in so that I will keep half of what I'm up so far. That's a strategy of sorts, I guess.
agree, but i HATE leaving money
Posted by Palladin on 22nd of Dec 2010 at 02:26 pm
agree, but i HATE leaving money on the table! Just the gambler in me I guess...
also beware of stops, especially if it gaps (up or down overnight)
profits
Posted by hazbin1 on 22nd of Dec 2010 at 02:05 pm
several easy rules.
1) can't go wrong taking profits.
2) NEVER let gold turn 'brown'.
3) re-read rule 1.