A 70k bet that I can't make a 50% gain in 2009

fh2k,

I have three rules for moving my stop:
1. If I am up over 1.00 I move my stop to b/e.
2. if I get within pennies of my target I will move my stop to b/e.
3. If the position has tried three or more times to get past a certain number near my target and can't do it.

Other than that I leave my positions go to stop or target. I don't know how right that is, but early in my trading I used to move stops alot and kept getting stopped out, only to see the postion go to target. So I decided to take "thinking" (my weak spot) out of the equation and leave almost all my trades go to stop or target. Now that I work while trading it helps even more for me to trade like this.

Having said all that....If I traded with alot more size and had some of the super low commissions that are out there, I would probably change alittle bit and firgure out a good risk/reward ratio for moving my stops up.
Hope that helps-G

 

FRIDAY WATCHLIST:

SHORTS: aapl bidu joyg rmbs uthr jnpr amzn

LONGS: rimm spy bbby chkp ca chrw esrx expd expe holx lvs leap

 

6/5/09:


9:31 200 AAPL SHORT 145.00
STOP 145.50
TGT 144.00

EXIT 145.51
P/L -116.03

 

6/5/09:


9:38 600 RIMM BUY 83.45
STOP 83.10
TGT 84.15

 

6/5/09:


9:41 AAPL 300 SHORT 145.75
STOP 146.45
TGT 144.35

 

300 AAPL EXIT 144.29
P/L +419.40

 

6/5/09:


10:05 400 AAPL SHORT 144.85
STOP 145.35
TGT 143.85

 

10:50 400 AAPL EXIT 143.75
P/L +422.18

 

6/5/09:


10:56 1200 FAS BUY 10.71
STOP 10.56
TGT 11.01

 

6/5/09:

11:30 450 DD SHORT 27.09
STOP 27.29
TGT 26.69

*partial fill