xbows

@Turbobob What do you think about entering a stock at day's open (with good catalyst, etc.) when it breaks past days open or HoD and just holding it all day. Only exiting if it returns to your entry price (for a wash), or if it goes up as far as it possibly can, maybe stuffing at a major resistance point. So rather than taking profits on the way up, just hold on for all or nothing basically. You're risking your entry price only, and yes, you could be giving up some gains by not locking in on the way up, but IF it goes all the way up you can maximize your gains. I don't typically trade this way, but then my gains are really small, so I'm thinking of changing to this strategy. I'll have fewer wins maybe, but my wins will be significant. I tried this this morning on GNCA and got 27%, which just isn't possible when you take profits on the way up. Have you ever tried this, and if so what was your experience?

xbows
xbows Oct 06, 17 8:53 AM

...In the majority of cases I will make a profit if I stick to this, and at most lose my trading fees if the stock skids backwards to my stop level right out of the gate.

xbows
xbows Oct 06, 17 8:55 AM

So to update, no I will not just sit on the stock all day. I will lock in profits on the way up, saving a piece in case it really runs, and taking it off if it pulls way back. But at that point I will have already locked in profits on the way up, so I won't take a loss.

IceMan14
IceMan14 Oct 06, 17 12:55 PM

@xbows at least you are making steps in the right directions, haha didn't mean to sound aggressive, its just that I've been spoken to aggressively and profanely by Sykes and Tri so its kind of rubbed off on me. Take care and best of luck.

xbows
1
xbows Oct 06, 17 1:01 PM

Yeah, I don't care for how Sykes talks condescendingly to people sometimes. There's such a thing as "tough love" and then there's just being a dick, lol.

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