help a ETer out

Discussion in 'Trading' started by itcanbedone, Aug 24, 2009.

  1. ok gents and gals,

    here is a little bit of a task for this community. I have not seen it done before for legit reasons here on ET and i'm gonna try to see if it can work.

    over the past few months or so, I’ve acquired a large position in a certain casino stock. as you can see on the charts, i hold now, also, a large profit in said position.

    it has now gotten to a point where I don't know how to do the following.

    a] setting a target stoploss (this could be an arbitrary location as this sock may continue to rockupwards after a down move)

    b] just dump certain #of shares and let the "profits ride" (this may also be an arbitrary position, cause this sucka may go really high in this type of crazy market.)

    c] use options to hedge (but I havenot used options before and would not know what to do)

    so, considering the above and these details, almost 400k and above profit is on the line, have about the same in cash. This way I can easily use options. But help me decide.

    I will post blotters/screenshots so we can all enjoy the ride together.

  2. Kubinec


    I see no charts!

    But I would sell 50% and see what the stock does. But then again, I'm not expert.

    What's the stock's correlation with the markets? (again, no chart)
  3. bumpin my thread...
  4. What exactly are you looking for here? A recommendation on when to exit? You haven't even posted what stock you are talking about.
  5. Liquidate and go back to trading a demo account.
  6. DrEvil


    Time to step off first base. Add to your position!
  7. what am i looking for? folks I am trying to figure out the best way to maximize profit!

    so I am asking help. what strats can I use to maximize profit whilst letting me enjoying the potential upside that I feel remains.

    Las Vegas Sands (LVS) Entry 8-9 area was the entry & I have over 50k shares.
  8. comeon dude, don't be like that.

    sometimes we get into a hole of a bad position and need to dig ourselves out.

    this time, i'm green and wanna keep this large profit.
  9. i thought about this, but don't' want to use the cash to buy further, but now want to use cash as a defensive play.

    that is why i'm 'trolling' for ideas.
  10. rwk


    Assuming the OP is legitimate, this is the best advice so far. You're trading much too big for your skill level. If you have to ask how to manage the trade, you're not ready to trade with real money.
    #10     Aug 24, 2009