major correction due, page-11

Fed

one very important lesson i've learnt in trading is ... stick to your targets as much as possible.

all too often i've set targets for taking profit, the price has made it to that target, i've decided not to sell, to hold and hold and make more, only to see it turn on me and me sitting on my hands 'hoping' it bounces, seeing my position eroding away. i did that last yr with SMM, i was on thousands of dollars paper profit, and waited too long, ended up with just a couple hundred dollars profit.

i'm very happy with the sale, i now have the cash, if the price does smash through 16 and on to 17 or 18, thats all cool, i know it won't go up perpetually, and there will be plenty of opportunities to re-enter and make more money.

never ever scoff at a profit, have made too many losses to sneeze at even the smallest profit.

keep in mind also, i bought the holding at $12, then a few days later it was trading at 10.50, so rather than a $1.50 loss, i've made a $4 profit. not bad eh