You never know how far a stock will go up or down. There is no too high or too low of a price. Personally, if I am looking to get out, I will sell into strength. Just common sense. When you wait for a pullback, you are giving up your profits and maybe, a huge chunk of it at the very exact time everyone else is going out and selling. Granted, the stock could go lower then, zip higher. I know it has happened to me. You can always re-enter the trade. If it drops as expected, you got out at favorable prices.
Applying the Entry and Exit strategy will benefit you in this case. An entry point is the price level at which you decide to open a buy or sell position. In contrast, an exit point refers to the price level at which you need to close your trade. Determining when to enter or exit a trade is a complementary step in your money management process and an essential element in developing a successful trading plan.
You can't ever find the top, you make money getting the bulk of it. You can always sell incrementally rather than all in one shot.
Sell when there is pressure building of buying and look for bearish patterns of candlesticks too at the top.
Agreed, most of the traders wait for the exact confirmation of exiting the position but the truth is that you will barely get that and eventually adjusting again the TP
I get stuck alot in " i should wait for when it goes my way" or in other words. I buy then there is a small profit of few 100 bucks But i feel like it might go higher Then it usually does fake breakout and starts a long ass downtrend. I dont know how i consistently manage to buy right before the last fake breakout.. i know i have a wrong programm running somewhere that stops me from taking small profits I dont know if its fomo or something else
Eventually you'll be right. All you have to do is keep your capital. Don't let your losers get away from you.