day trading exit strategies? Back to the past??

Ask : when you plunked down your hard earned money did you have got any concept where you would sell it or where you could exit the trade if the stock go down rather than up? And suspect it has gone up have you made any plans to guard those profits?

There were many geniuses in 1999 who acquired a tech stock at $20 and saw it run to $200 only to come back down to $2. If you were in the cart whip business in 1900 and saw the car putting the pony out to pasture you simply knew it was time to sell out. So long as the stock price is advancing you will continue your love affair, but when it starts down it's time for a divorce.

Essentially , this suggests that if something is working well, don't try to 'fix it', or 'improve it'. Chances are that you will end up doing more harm than good. Nowhere is this more true than in the cut and thrust world of stock trading. And nowhere on the planet of the money markets is this more clear than in the release of the supposed 'T4 Trading System '. Back in the dim and distant trading past ( mid 1990's, basically.

This, naturally, was a tongue in cheek reference to the incontrovertible fact that there's no 'Grail' - just because no trading system is infallible. No surprise truly, given the thoroughbred quality of the technique's folks.

Mr Evans, naturally, has other names - 'Shiraz Lakhi' being his prior incarnation.

If you simply acquired it your ties are powerful and you know if you sell you'll have a loss. When you purchased that new auto you knew as fast as you drove it off the lot it'd be worth twenty p.c. less than you paid for it. Forget "the long haul" as you do not need to take the 40% losses that many speculators did in 2k. You decide how much you are prepared to lose if it is going down rather than up and as it goes up carry that risk p.c. along to fasten in your profit.

Article Source: Swing Trading and Day Trading Strategy

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by: JohnSmith

Html View | View PDF | Print View Total views: 87 Word Count: 385 Date: Sat, 16 May 2009 Time: 4:58 PM - 0 comments

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