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TraderJones

275 Posts.

2

31/12/17

08:14

Post #: 29955506
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Originally posted by SDi ↑

I have only been playing the game for 8 months, but by far the most helpful tools are automated stop losses/take profits.

For example, take a small ($500-800) pilot buy with a 15-20% stop and an initial 50-100% gain target.

If the SP enters negative territory and you are stopped out, the loss is minimal. Consider re-entering.

If the stock approaches 10-20% gains, consider topping up. If for whatever reason you decide to hold above 30-100% gains and enter a higher target, try as many others have mentioned to take some off the table.

This way, you can worry about the SP of a stock, but the execution is already factored in....

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Are you able to have both a stop loss AND a sell price set automatically with your trading platform? I'm with ASB securities and Im not sure if I can do that. Will look into it as it does sound like a good idea.
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