Re: [CANSLIM] Need some help in selling

From: Top Secret <starcast82@yahoo.com>
Subject: Re: [CANSLIM] Need some help in selling
Date: Tue, 1 Jul 2003 08:59:38 -0700 (PDT)
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Here is what I think.
 
Before you Buy anything
 
1. Have a buy price
2. Have a stop price
3. Have a sell price.
 
I base my prices on what the chart says. I don't use percent points although that may work for you. I use trailing stops on the way up. Why sell if it has a 20% profit it may have more on the way. Trailing stop will let your profits run and make the sell decision for you. If the stock hits your objective sell price you may sell half and lock in the profit and hold the other half to see what happens. Best strategy I've heard for years and never really dawned on me till lately " Let your profits run, cut your losses short" Following that strategy you only have to be right 50% of the time to be a successful trader. Takes some of the pressure off.
 
You are working on a set of rules which you adhere to so you are making progress.
 
I just joined the group yesterday and I look forward to hearing everyone's opinion. 
 

Pritish Shah <pshah@lason.com> wrote:

Here is my problem,

I definately know when to buy, I do not know when to sell except for one rule -- 7% to 8% loss. And you guessed it -- I seem to be selling most of my stocks at that point. Currently, I am at breakeven even though I bought most stocks that were good.

So I am trying to revisit all the sell rules. Can we compile a list

1) Sell when you hit 7% to 8% loss
2) Sell when you hit 20% profit
but do not sell if 20% within one month
3) Sell when the stock moves out of trendline
4) Sell when the stock falls below 50dma on heavy volume

So am I missing any more sell rules?

Here is my situation:

Over the last 45 days, I have bought 27 stocks. I have sold 21 for a loss and 3 for 20%+ profit and have held on to other 3 for 20% profit.

Basically, to make profit, I have to sell more than one-third at a 21-24% profit and sell two-thirds at 7-8% loss. 

So give me suggestions... What should I be doing? How can I make profit?

Thanks,
Pritish


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<DIV>Here is what I think.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Before you Buy anything</DIV>
<DIV>&nbsp;</DIV>
<DIV>1. Have a buy price</DIV>
<DIV>2. Have a stop price</DIV>
<DIV>3. Have a sell price.</DIV>
<DIV>&nbsp;</DIV>
<DIV>I base my prices on what the chart says. I don't use percent points although that may work for you. I use trailing stops on the way up. Why sell if it has a 20% profit it may have more on the way. Trailing stop will let your profits run and make the sell decision for you. If the stock hits your objective sell price you may sell half and lock in the profit and hold the other half to see what happens. Best strategy I've heard for years and never really dawned on me till lately " Let your profits run, cut your losses short" Following that strategy you only have to be right 50% of the time to be a successful trader. Takes some of the pressure off.</DIV>
<DIV>&nbsp;</DIV>
<DIV>You are working on a set of rules which you adhere to so you are making progress.</DIV>
<DIV>&nbsp;</DIV>
<DIV>I just joined the group yesterday and I look forward to hearing everyone's opinion.&nbsp;</DIV>
<DIV>&nbsp;<BR><BR><B><I>Pritish Shah &lt;pshah@lason.com&gt;</I></B> wrote:</DIV>
<DIV>
<BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid; WIDTH: 100%"><BR>Here is my problem,<BR><BR>I definately know when to buy, I do not know when to sell except for one rule -- 7% to 8% loss. And you guessed it -- I seem to be selling most of my stocks at that point. Currently, I am at breakeven even though I bought most stocks that were good.<BR><BR>So I am trying to revisit all the sell rules. Can we compile a list<BR><BR>1) Sell when you hit 7% to 8% loss<BR>2) Sell when you hit 20% profit<BR>but do not sell if 20% within one month<BR>3) Sell when the stock moves out of trendline<BR>4) Sell when the stock falls below 50dma on heavy volume<BR><BR>So am I missing any more sell rules?<BR><BR>Here is my situation:<BR><BR>Over the last 45 days, I have bought 27 stocks. I have sold 21 for a loss and 3 for 20%+ profit and have held on to other 3 for 20% profit.<BR><BR>Basically, to make profit, I have to sell more than one-third at a 21-24% profit and
 sell two-thirds at 7-8% loss. <BR><BR>So give me suggestions... What should I be doing? How can I make profit?<BR><BR>Thanks,<BR>Pritish<BR><BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your email.</BLOCKQUOTE></DIV><p><hr SIZE=1>
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