Some times I close positions just to lock in some green even though they still have potential... I was thinking if I only allow myself to reverse in swing trades it might be more profitable. ie if Im long a stock I can only close that position if Im willing to take a short position.. I can definately see some problems like overtrading and trying to pick tops/bottoms...but maybe the gains will be greater Is anyone using this philosophy?
Nothing wrong with taking a few chips off the table. If I am in a winning position, I may take off 1/2 - 3/4 of the position and let the rest ride. Then add on a dip to get back in.