Hey Guys, I was wondering if you had any suggestions/recommendations as to when you should exit a winning trade? I am really good with my stops but am unsure when to take a profit. I find if I set a fixed price depending on the stock price eg £10 stock take 8p thats fine (no harm banking profits) but then on the flip side I can end up missing the bigger moves....any suggestions? The only thing ive come up with is doubling the size of my trade and banking half the profit when the stock hits my target and letting the other half run, but then im still left with the problem of when to get out.
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Black Swan
What indicators are you using...?
B
Black Swan
That it? Think about adding a few key indicators (perhaps just one) and the answer will be obvious...
which ones in particular would you suggest? and would these differ for a day trade and for a trade of a few days to a few weeks?
B
Black Swan
sorry bud, go figure it out yerself, what works for me mightn't for you etc...
Dinos
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You could try MACD(S), at 12,26,6, say hourly or two hourly chart, trade with the MACD gap momentum, and look for a closing opportunity when the gap starts to slow (narrow), worked with a stoch, 11,3,3, stoch to get out, usually works well. but check it out, don't take my word for it
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