Saturday, August 12, 2006

Protect your profits

Well, by now most of u have heard about stock market and some lucky ones had tried and make money from it. I lost a lot of money in stock market. I'll share with you some tips to protect your profits. There are a lot of ways to do it but i'll show u the most important in my point of view. these are :

1. Have a stop lost and stick with it. let say u buy something at 1.oo ringgit. put a stop loss (a value u can live without) of let say 20 cent and when it reaches 80 cent immediately sell!

2. Traling stop. if let say u've made a profit but still hoping it go up have a trailing stop. eg. if u buy something at 1.00 ringgit then it go to 1.50 and u still dont want to sell, make a trailing stop (amount u might satisfied with) of let say 1.30 ringgit.. if it goes up again.. ride the flow but if it changes direction i.e price lowed, sell when u reach ur trailing stop which is at 1.30 something is better then nothing. if u dont use it u might turn profits into losses and i would hate to have that.


Anonymous Anonymous said...

dude, your trailing stop explanation doesn't make sense.

8:02 AM  
Blogger Harith the Great said...

well, its actually simple.. if u are in profit and ure not realising it i.e. sell it coz u think it can go further up, fix a target to get out if it dosent go any further. if let say u already got .20 sen, u might wanna set ur profit to that .20 or .15 and if it goes down, u sell at ur traling stop point which is .20 or .15 profit. if u dont use it, it might go lower and lower

3:06 PM  
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