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How to manage my Trade -Investment or Day/Swing Trade for max profit?

Discussion in 'Investing' started by mancunian, Aug 18, 2020.

  1. mancunian

    mancunian New Member

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    OK so I am in a a trade/investment for shares I own (not a spread bet or cfd) which is currently quite profitable with a strong but quite volatile upward trend but I cannot decide whether to :


    a) take profits in smaller chunks along the way every day or so as the upward trend continues and allows i.e. cash in before the pullbacks and rebuy the the dips


    - this may be difficult as I would have to be be able spot the interim tops before the pullbacks happen and the bottoms of the pullbacks. I am also having to pay the spread each time I move in and out of the market. This would take a lot of monitoring and time and I guess would turn me into a day/swing trader.


    OR


    b) just leave the trade alone and ride the rollercoaster for a few years until I think it has reached the end of its long trerm upward trend. This may mean I do not make as much profit as I do not benefit in the extra profit made by buying the pullback dips but is easier to do - just sit back and wait?


    c) a better option?


    I would appreciate anybodys advice or opinion as it always tempting do a) grab the chuncks of profit along the way but I fear this may take more skill and actually result in a lower profits.


    Your thoughts please thak you?
     
  2. mancunian

    mancunian New Member

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  3. TomB16

    TomB16 Well-Known Member

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    If you want to move and shake, there are a lot of trading journals on this web site. Just go into the Journal forum.

    I saw your question but choked on it for two reasons: 1) I'm an investor with no ability to help 2) The idea of giving someone specific recommendations is an affront to God.

    Good luck, mancunian. :)
     
  4. T0rm3nted

    T0rm3nted Moderator
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    All I'm going to say is if you're a trader, you need to have a plan when you enter your trade.
     
  5. KING BONG

    KING BONG New Member

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    I'm new to trading, but it seems you're confused if you should swing trade or long term invest. You should have decided that before purchasing your shares. If you're looking to long term invest you need to look at the charts from the past few years and see if the shares price has been on a upward path, and look into earnings statements, investor meetings, and analyst predictions to get an idea of expected growth. If you're looking to swing, you need to learn about support/resistance lines, candlesticks, patterns, and trading strategies and then determine the patterns of past charts. I haven't dabbled in this YET, but I have been spending the last couple of weeks watching tutorials and educational techniques to learn the concepts and practices. It's intense. Also, there are markets you can day trade without the $25,000 capital requirement, but shares are usually around $500. So, you are risking $500 to make $50. I really want to know what I'm doing before utilizing this strategy, because you can lose your house guessing without education. I don't know you're situation and am the worst person to get trading advice from, but if you can sell now for a profit or even small loss, I would. Then take a second and do some dilligent research to develop a plan forward. You want to know WHY you are purchasing shares, and it needs to be more than "to make money." Every action has an equal and opposite reaction, so make every action with purpose. Good luck!
     
  6. TomB16

    TomB16 Well-Known Member

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    No guts; no air medal. Remember, everyone is doing it. :thumbsup:


    Now that's out of my system...

    I see people new to the markets wanting to take risks and engage the market somehow, this all the time. This is akin to saving up a bunch of money, buying a used 747, and then trying to fly it with no training. ... and about as smart. How hard can it be?

    There is nothing wrong with learning the market through hard-luck experience but I wish to point out there are methods of learning the market that are infinitely more efficient. Maybe you don't have to work as hard for your money as I do so you don't care.

    If you find yourself interested in an approach that is more respectful of the time you put in to earn the money you are putting at risk, stop by the Long Term Investor thread for some great information.

    Best wishes with any approach you take, mancunian.
     
    #6 TomB16, Sep 3, 2020
    Last edited: Sep 3, 2020
  7. A55

    A55 Active Member

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    That doesn't work. I still have Ford, GE, IBM, Xerox, HSBC, Walgreens.......how will you know it has reached the end?



    Tom is a fountain of hidden wisdom, and a cinema connoisseur.
     
  8. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    Option C: Take your money off in tranches, e.g., halves, thirds, quarters. If you want to "buy and hold" the last tranche, move its stop-loss only up to break even.
     
    #8 Onepoint272, Sep 4, 2020
    Last edited: Sep 4, 2020

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