Nightly topic: When to exit a rising Penny stock? I thought this would be an appropriate topic tonight being many are holding some Plays that have been moving nicely. While this topic has no Black and White answers each person has to make their own decision as when to sell. Just a couple of my own comments. We all are elated when out Plays are going up and we have decent to sometimes stellar gains. It is very easy to get caught in the "Trap" thinking it will go higher. Yes, I am also guilty of this although not so much these days as I was back 10 years ago. It's very easy to think a Play will keep rising only to be saddened when it retreats and then the "God, if only I had sold" thoughts. Once one gets to a gain of say 70-100% that is awesome and it should be time to think about selling. If not, at least start placing stop limit or stop loss Orders to protect your self on the downside. (Stop limit and loss Orders were discussed about two weeks ago if anyone needs to read up on how those work). Say ABCD is trading at 10 cents and you bought it at 4 cents. You would be up a little over 100%. Place a stop limit order at say 8 cents. As the pps moves up to say 13 cents raise your stop limit order to 10 cents. That way you are protecting your profits. Another way to do it is sell tha amount of shares you need to in order to get your initial investment amount back and then let the remainder of your shares ride "Free" also known as "Freebies" as you will read on the Boards. A final option when one is up large it to flat outright sell everything and walk with the nice gain you have. I'll tell you what; it is a great feeling once one hits that sell button with a 100% gain and to reel those gains back into your account where they are yours! As I always say, never look back if after you sell the stock it continues to rise. There are many other Plays out there that you can then invest your $ into that present themselves every day.
As the saying goes and you see it on many Boards: Pigs get eaten and Hogs get slaughtered. I used to laugh at that phrase but as the years go on it is so true. Hope this Post makes some sense but in the end it is a personal choice as when to sell and buy for that matter.
Tomorrow nights topic will be "What is a Promo Play".
