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Hi Lee,
Thanks for the quick reply. You're absolutely right about my other
option, to liquidate and take my profit and run. There is only one
slight problem: I have my target price at 4(should have mentioned it
eariler)! My trading rule dictates to me to stick to my target price
but, at the same time, it is hard not to take the profit!!
Regards,
Frank
Lee Clayton, D.D.S. wrote:
> Frank:
>
> You forgot one option: Sell at 6 and take a 40% gain to the bank.
> Write
> this one down as a GREAT TRADE and remember it!
>
> -----Original Message-----
> From: Frank Chamanara <fchaman@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Simple question!
>
> >Hi Rts,
> >
> >I have a very simple question:
> >
> >You short it at 10 and you calculate the resistance levels at 8 and
> 12;
> >the price falls down to 6!
> >
> >Would you place the buy-stop order at 8 to protect profit OR place it
> at
> >12 to increase your chance of bigger profit or loss?!
> >
> >Thanks,
> >
> >Frank
> >
> >P.S.: I forgot to mention that I have a very bearish bias in the
> prices
> >due to my technical indicators.
> >
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