I’m a part of your chat room now for the past 2-3 days. Today I saw the alert at .285 for EPRS but I got in at .32 and in 20-25 minutes it was at .38. I was up $400 and I kept watching it since it was running and the next thing I know it had crashed back to .32. I got upset with myself as I should have taken the $400. My question is how do you just sell the stock when you see it running? I get this thought that its running so why sell and wait for a bit. Please guide me how you deal with this and how I can improve. One of my most important goals in joining your room is to get educated on trading and become a disciplined trader. Any thoughts on how to overcome this issue would be appreciated!
Dear valued member,
Again, I don’t know every members situation. Some members could have held it as a suggested swing. Some members might think $100 (based on their trading account size) is a lot of money and taken that off the table. Some members held on through all the ups and downs to hold for the high of the day at .42. Still others might have sold it at .37 for a profit, and bought it again lower for the run to .42. Everybody is different and should be different with their goals, trading capital and experience.
See why I don’t like to tell members when I sell? It’s so personal! I did post my sell at .366 and I wondered how many followed me out, missing the run to .42.
So my question to you, is $400 a lot of money? If so, take the money! Who cares if it goes to $1. There will always be other opportunities to play in.
For me, I had $1400 locked up at .366. I took the money as that is over my trading goal for the day. Did I lose out for bigger gains? Absolutely. It eventually went to .42 and could go higher tomorrow. But at the time of the live trade, you just never know what will happen. Always pay yourself if the gain is substantial to your trading goals and situation. You will live to see another day by always taking profits!