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When do you sell?
What is your philosphy on taking your earnings, assuming you're actively trading? I have a knack for staying in too long (pigs get slaughtered) so I'm interested to hear when you guys decide to get out of a stock.
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I like to set a target and sell when it reaches it. You can adjust as needed but you have to be kind of strict too. I’m debating upping one of my targets now but I’m not sure. I’m curious what everyone else says too.
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Stocks/Investments Moderator
Always have a plan of when or where you want to exit before entering the trade. Always follow the plan that way you can review your process and make the necessary changes.
When I enter a trade, I have a price target, and a stop set. As price gets closer to my target, I adjust my stop. I usually, move my stop to even once price has moved half way to target. There are times when I will just let a trade run and will use a trailing stop.
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I don't always choose to bail on an investment at a certain $ amount. I have to have a "feeling" about the current and near future psocio/economic/political climate at the time.
I might also look at the past years to see what the future month or two has performed in The Market.
Throw in an election year, and my "feelings" are up and down.
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When I need some cash. I dont care where the market is up or down, my guy gets me money from my investments in the smartest way possible.