Stop losses are for everybody and should ALWAYS be obeyed. End of story. Forget every other 'rule' or quote. But always remember to obey stop loss. And always lock in profits.
I can't believe we're even discussing this. It's not a matter of opinion or debate. Any successful trader or investor will ALWAYS obey their stop loss. That includes a trailing stop loss to lock in profits.
"Stop losses don't work with small cap stocks"...What a convenient excuse for the rampers here. If that's the case then you're relying purely on luck that one day, maybe just one day, the share price will bounce enough for you to get out and never look back. What a wonderful feeling. It never happens though.
For PDY, most stop losses (including trailing stops to lock in profit) should have been activated on Tuesday when the share price fell through the floor. If not, I suspect many more will be triggered this week.
Have a think about it people - you can't make money without preserving your capital. You'll thank me in a few weeks time.
PDY Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
