Quote:
Originally Posted by CyberAge-Dave
Good question.
Because I never know where to set my stop loss. Sometimes I'm cool being up 500 bucks but then there's times like today where its much higher. I don't like setting limits because you never know what that stock is going to do.
But your way would have made me the 9K today.  |
So up the stop loss as the stock goes up, figure the amount of fluctuation in price you need to leave room for so you don't sell on a dip and your good to go. The only thing your limiting is the loss on your gains. In this situation I would have set the stop loss at 6% below your $3000 gain to start and then moved it up every time the stock went up, always lagging behind just enough to avoid the ups and downs in the price.
See I am good at making money when I get lucky and pick the right stock, but I suck at picking the right stock.