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When to SELL??
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jacsoh
Member |
29-May-2006 23:13
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Hi Hostradamus What is horizontal or slopping channel lines ? How and where you draw these lines ? How you determine a support and resistance level ? Where can I learn all these TA ? |
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eddyte
Member |
29-May-2006 23:09
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1. If you see everyone in the market is super bullish, it's definitely time to sell. 2. When your stocks already up 20% or more, why wait???? Unless you wanna own the company. 3. If you have the urge to add more to your already profit stock, then it's an early sign of 'time to sell'. 4. Like LKY said, To keep healthy : when I feels my food tastes very good, I stop eating immediately. So, To keep our portfolio healthy : when you are having a great time calculating your profit, then you know it's time to sell already. 5. Then, after you know it's time to sell, you should study the chart to decide what price you should sell your stock, I don't think anyone can advice you on this. Only you will know your entry level and your cost. Well. Hope this helps. I know these points but honestly I CAN NOT do it all the time. It's called Greed taking over!!!!! |
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Nostradamus
Supreme |
29-May-2006 21:35
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Hi patricksoon, I identify oversold stocks. From the chart, I determine the support and resistance levels. This could be horizontal or slopping channel lines. I buy at the support level and sell at the resistance level which could be 20-30% higher than the purchase price. I usually don't wait until the price double or triple to sell. It's hard to tell if it will happen. But I trade more often. This strategy works not just in bull market, but also when it's bearish. If I made a mistake, I believe in cutting loss quickly, around 8% down from the purchase price. This way, my losses are minimised. If this rule is followed, you'll never lose all your profits made since the beginning of the year like what some investors did in the bear market. Be disciplined in cutting loss. Don't be emotional when buying stocks. If you bought the wrong stock, don't be emotional in wanting to make money from the same stock. If it's a bad stock, switch to a good stock. |
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solomonster
Senior |
29-May-2006 19:59
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Well Said! I like your word! |
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keejang
Veteran |
29-May-2006 19:31
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Hi patricksoon, This is a very good question! I'm a TA person and have used FA before converting to just purely TA. The problem with using FA, I feel, is the difficulty in finding good entry and exit points. For TA people, the entry and exit points are easier to find because we act (buy/sell) when certain indicators or chart patterns form. For me, I sell my stock when either 1 of 2 things happen - (1) The indicators or chart patterns foretell a trend reversal. (2) The stock price suddenly falls below a pre-determined stop value (which is around 5% of the previous peak) Sometimes the price will rise again after selling but I firmly believe that lost opportunities is better than lost profits (in the words of the famous Joe DiNapoli). Cheers! Kee Jang |
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patricksoon
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29-May-2006 18:56
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Hi fellow TA I have been a FA for a long time. I usally buy, wait a while (could be a few months or even years and then sell) Books have always advocated cutting your losses and riding your winners to maximise profits. On some occassions I have sold my shares, only to see it double from my selling price (OUCH!!!, it brings tears to my eyes!!) What about TA viewpoint on when to sell? Many of you have shared what and when to buy but WHEN to sell has not been touched on? Do you set a predetermine target and take profits? Are there known theories in TA for this? Please share your thoughts!!! Thank you and Cheers. |
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