Rock Ridge Resources, Inc. (RRRI)

[lowtrade]

gregmaster

By all means, if you like a stock and see potencial, you should hold a longer postion. I never said don't hold a stock long.

Many times it pays to hold long and swing a smaller position, so you can make money, while waiting to make money! Funny I just posted this on another board.

That is exactly what I did today. Altering my original plan. Freeing a small portion of my longer hold, to swing short, while waitng for the major profit sell. I could have closed something else, to free up cash. But I'm a stick to your plan man, and just couldn't change one plan, on another stock, to create new plan here.

So my original plan to to swing a TNOG lump for 25% holds, just now I will also swing a smaller position, 10% short. If the sideways channel holds long enough for 2 plays, I'll have made 20% on the small position and 25% on the large. Never alter you loss target down!!!! Or the time you want to tie your money up!!! Stone targets!!! Moving you lifeboat to the other end of the ship, increases you chance to drown!!! LOL

When setting up a trading plan, it's all in the numbers, Concider time, profit, loss, if targets are not hit you should alter some variables, but don't change loss or time targets. They are the things that save your butt. But by all means alter your way to make a profit or raise a profit target, if indicators warrant.

I often raise my profit target, but remember to raise your loss target the same %, so you retain what you have gained!
Say you trading plan sell profit is 10% and sell loss 5%. Things go well and you re-evaluate your stock as it approches your profit target. (I always do that) Then you see a new profit target of 20% resonable, raise your profit target 10% to 20%, but also raise you loss target also. I usually pick my old profit target, as my new loss target. If you reach this point, it's all gravy!

Hope this gives you some ideas on how to create a trading plan.