G'day 62strat. Not one to offer advice especially on a forum such as HotCopper but i do have a firm set of trading guidelines that i try to stick to.
Discipline is required. I am a firm believer in taking reasonable profits regularly in lieu of hanging out for the real big once in a life changing deal. I have set my parameters from experience over many years. Multiple profits in the 20 - 40% always seems to cut the mustard over waiting, dreaming and hoping for the big one. Plenty of short term money making opportunities available everyday on the ASX. Very easy to learn quickly when you have $750k of paper profits on a speculative stock, too greedy to sell only to see it retreat to not much more than zilch.
IMO set parameters and lock in profits accordingly.
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