I have owned at least 5 stocks and ETF's these last 12 moths that at one point in time were up 100%. Great, right? If it doubles again I'm up 400%. They never do that and almost everytime the 100% was a sell signal. How do you kill the 'let's wait for the big one' voice in the back of your head? Cheers.
Constantly remind yourself that the "let's wait for the big one" voice is the voice of greed and will always let you down. I like the addage "trade to trade well, not to make make money" or however it goes.
I would have 2 ideas to suggest: 1. If you get a double, consider selling if it backs off a certain % - i.e. If you buy an ETF for $10 and it goes to $20, consider selling if it now falls to $17. Don't allow yourself to base getting out on emotions, though - once you have the double, set the rule and if it gets hit, sell. 2. Consider selling half and letting the other half run. I have been doing this with some penny stocks recently. I've got about 4 penny stocks with $0 into them right now because I sold half or slightly over half when they doubled. Now, I don't feel any pressue to consider selling them if they start to fall - I can wait them out for as long as I want. JJacksET4
WHEN GO DOWN, THAT MEANS SELL. WHEN GO UP, THAT MEANS BUY. EASY SAID AND DIFFICULT TO DO. I THINK YOU ARE NOT DAY TRADING ETFS, BASICALLY YOU ARE IN OVERNIGHT SWING TRADING. IF THERE IS ONE DAY DOWN, THEN GET OUT, OR DOWN 10+%, GET OUT. MARKET WILL GO WHERE IT WANT TO GO AND IN VARIETY TO GO. MAYBE DOWN 50%, THEN UP 200%, OR DIRECTLY UP 200% WITH NO STOP.
Looks like the answer is in your question. We trade probabilities your experience tells you 100% is the sell signal,,, 1) increase size/scale in 2) reverse position at target. 3) the market doesn't care about you,it will give you what it gives you or not at all for most people 4) millions live in extreme poverty with zero chance of escape