MY last swing buy for Gtel, at .222, has had a open till close order in at .282 since the day after the buy. So I will be following the senario I just layed out in swinging this play.
I expect to do a re eval June and possiblly raise the sell target at that time. If a company event causes it to run to my target quicker than I expected, I'll close for 25% and be happy!!!!
I'll just wait for the next retrace bottom I determine and start again. Because I have determined a new top late June, early July and there should be enough time for another play.
See my point about selling at targets !! Determining exit points with TA, is used to determine if I'm looking at a stock that can reach my 25% penny swing goal. The TA does not determine my target, but will allow me to expect it to be reached, with a re eval to a higher target as time goes by. If you miss the re eval, because of a fast move, so what.
You get back in if TA shows you should, or you move on to the next stock on your watch list. You won ! Maybe, not with the highest score, but a win is a win. My trading style.
All lurkers should determine a style, find targets, how ever that style projects them, before you buy. STICK to the style's plan.
Don't buy because it's running and looks good, then follow the trading pattern for the largest profit, or hold until it's to late. Know what your going to do, before you do it!
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