Hi @The Dean I responded to @Grumpy42 Getting worn out upping the stop loss every day!!! Shame...
I thought perhaps my information may help some less experienced traders protect themselves and bring awareness to the facility available.
I have just in the past 2 days put a 10% trailing stop from EOD Close on my GXY holding as minor variations are having $ outcomes that I wish to protect.
I was in Europe late Sept 2016 was substantially positive on my GXY holding, had internet problems, got caught out when there was a substantial pullback. without the trailing stop I lost lots and went negative by 100k. This resulted in having to claw back by averaging down to $0.433c which cost a bundle.
I agree with you that Trailing Stops can be problematic especially on penny stocks if set too tight, sometimes you are just not around to watch and before you know its done and dusted.
I see GXY transitioning out of penny stock status and just want to protect myself from my last experience.
I have a tendency to learn the hard way.
Love your work by the way
GXY Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
