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When to take profits?
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Created: by vicktor Attachments:0

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When to take profits?

  #11 (permalink)
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vicktor View Post
I started trading, ETF's mainly, and so far so good, 4 trades still in and each with a small profit. Now the emotions come in.
Is it better to go for a specific gain in each, say 6% or maybe 8%, or else go for say a trend break out..or then again do follow up stop orders..<?>. Sounds like the same feeling I used to get at a Vegas Crap table, when to walk away with a profit, if any <?>.,

get out when your premise is invalid or if after a nice run you believe you can buy it back or short more at a better value.

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  #12 (permalink)
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Trading Not So Easy

As I mentioned in a previous post, I'm pretty much able to select what should be traded say as
a buy in according to my methods. What I was doing was a buy-in to several ETF trades.
Most recent one's in early May were, UWTI (X3), got out with a nice profit, I also bought in
IBB and still hold, but traded in and out with IYR, XHB, XBI and XPH. Well, sounds great eh! Well, turns out, but it isn't because I was trading like 3, 4 or 5 ETF's at once, so one goes up with a small profit, should I hold <?>, then another comes down with a small loss, my emotions are now in a damn stupid guessing game. Do I sell the small loss, do I sell the small profit, etc, etc...On average, looks like I just come out as an average long term portfolio..

So what do smart experienced profitable traders do<?>, do they trade only one equity, stock, or ETF at a time, pay attention and hold to only one until they sell it and are completely free of it, or are they able to trade several trades, ETF's at once in their portfolio? How do you traders control your portfolios, one equity at a time or several at once..
Any ideas...<?>>.

.

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  #13 (permalink)
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DbPhoenix View Post
Some exit at a predetermined price target.

Some exit at a trendline break (one hopes the line is drawn correctly).

Some exit via trailing stops.

What you do depends on the results of your having tested all three during your backtesting. If you haven't done any backtesting or tested any of these three alternatives, then you're pretty much in the same position as you would be at the crap tables.

I suggest you spend the weekend with some replay and do some quick and dirty testing of each of these options on "old" charts of whatever ETFs you're trading. Then you'll know on Monday what to do.


kevinkdog View Post
EXCELLENT advice. Test, and let the results guide your decision.

Having test my system and trading it over the last few months the predetermined targets have worked the best. I have stopped using trailing stop losses and have actually removed myself from the management of the trade. I set it and go. I am working now to quantify my ideas better and possibly automate (might never get to auto, but the process has made me think more mechanically of my trading which has been good.)

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  #14 (permalink)
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tturner86 View Post
I am working now to quantify my ideas better and possibly automate (might never get to auto, but the process has made me think more mechanically of my trading which has been good.)

I find that psuedo-code "algorithmic" definition to what I'm thinking helps identify situations (edge cases and "what to do if") that should be addressed. Still not very good at doing this as I'm still very green and coding concepts don't translate well. But it does help with the discovery.

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  #15 (permalink)
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TLT Buy Or Sell

I wonder if someone can help positively with this query to buy-in or stay away.
I am getting a strong indication to buy in TLT, IShares 20 Year Treasury Bond ETF. TLT is now at
about 120. But still, even though Chart wise it indicates to buy in, I wonder about the so called up coming, Interest rates hike, if at all I mean <?>. If i see the indication to buy in TLT, then if Interest rates are supposedly going to rise, that would contradict any good sense (chart wise) to buy in TLT. Yet, go against reasoning, or go by my charts and indicators..? TLT is in a long term channel up trend, but on a pull back from a high of 136 back in February.

Heck, maybe just skip it..would be best eh<?>.

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