Quote:
Originally Posted by mrbaseball
This is why it is important to quantify the approach. Only one of the 56 has dropped greater than 5% which I would consider a puke point. 13 are currently losers and 43 are currently winners. The entry strategy seems solid but any kind of exit strategy needs to still be formulated other than the initial drop dead point.
For exits I always use some sort of trailing stop based and support/resistance which is easy for my personal portfolio but is much more cumbersome when looking at a mechanical exit approach for a large basket.
is yours a day trade approach, long term , combo of both ????
do you use separate accounts ?
I HAVE MY RETIREMENT ACCOUNT SEPERATE FROM MY DAY TRADE ACCOUNT.
to which I take a different approach but still look over daily.
they are more solid blue chips some with dividends which may fluctuate but the foundation is solid. I tend to review that % based goals VS
My day trades are my income and I look at $$$$ made weekly as my goal.
I have found it to be less stress to keep them separate as before I used the retirement for margin leverage and tended to stress over minor daily highs/lows. so just for my piece of mind I moved my retirement to a different brokerage.