Comments on: The Other Side of Discipline http://www.thestockbandit.net/2006/05/14/taking-profits/ Trading blog with trading insights, discussion on swing trading, day trading, and trading psychology. Fri, 16 May 2008 04:26:16 +0000 http://wordpress.org/?v=2.0.9 by: Don’t Forget to Prep for 2008 | TheStockBandit.net http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-40409 Sun, 23 Dec 2007 16:29:03 +0000 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-40409 [...] What about your discipline? Are you slow to cut losing trades, hanging around in lame stocks when you know you should be bailing out and moving on to the next opportunity? Discipline applies to winning trades too - make sure you’re allowing your original game plan to play out and don’t cut the legs out from under those trades which are working in your favor. And are you exhibiting the discipline each day to do your homework and get prepared for the trading day? If not, create some new habits for yourself come January 2nd that will improve your odds of success. [...] […] What about your discipline? Are you slow to cut losing trades, hanging around in lame stocks when you know you should be bailing out and moving on to the next opportunity? Discipline applies to winning trades too - make sure you’re allowing your original game plan to play out and don’t cut the legs out from under those trades which are working in your favor. And are you exhibiting the discipline each day to do your homework and get prepared for the trading day? If not, create some new habits for yourself come January 2nd that will improve your odds of success. […]

]]> by: TheStockBandit.net » One Year Ago This Week - May 12-18, 2006 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-7845 Sat, 12 May 2007 12:03:09 +0000 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-7845 [...] We all know we need discipline to succeed as traders, but most talk of it is in relation to losses. Don’t neglect The Other Side of Discipline. [...] […] We all know we need discipline to succeed as traders, but most talk of it is in relation to losses. Don’t neglect The Other Side of Discipline. […]

]]> by: TheStockBandit.net » Trading Chart Patterns: Why Cleaner is Better http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-5858 Thu, 22 Mar 2007 17:55:29 +0000 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-5858 [...] This is the basis of our swing trading at TheStockBandit.com. We locate the chart patterns for our members and then explain why the stock is a trade candidate to begin with. Every single trade is provided with a specific entry level, a stop loss, and typically two profit targets so that we can scale out of the trade and take profits into strength (with price projections also being based on the chart patterns). [...] […] This is the basis of our swing trading at TheStockBandit.com. We locate the chart patterns for our members and then explain why the stock is a trade candidate to begin with. Every single trade is provided with a specific entry level, a stop loss, and typically two profit targets so that we can scale out of the trade and take profits into strength (with price projections also being based on the chart patterns). […]

]]> by: TheStockBandit.net » Keep it Orderly http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-1762 Tue, 12 Sep 2006 18:49:11 +0000 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-1762 [...] I will use limit orders when I’m offering out shares above the market to take profits in a winning trade (or bid out of winning short sale positions), but that’s about the extent of when I use them. In theory, Limit Orders are a nice concept but I know that for the few cents they might save me on occasion, they will more often mean many dollars in opportunity cost in those stocks that break out quickly and never look back (I’ve found the best trades behave that way). Trying to buy a breakout with a Limit Order as the stock moves away from you will result in being left behind most of the time, and that’s far more frustrating to me than paying a few more pennies and catching the trade. [...] […] I will use limit orders when I’m offering out shares above the market to take profits in a winning trade (or bid out of winning short sale positions), but that’s about the extent of when I use them. In theory, Limit Orders are a nice concept but I know that for the few cents they might save me on occasion, they will more often mean many dollars in opportunity cost in those stocks that break out quickly and never look back (I’ve found the best trades behave that way). Trying to buy a breakout with a Limit Order as the stock moves away from you will result in being left behind most of the time, and that’s far more frustrating to me than paying a few more pennies and catching the trade. […]

]]> by: Vladimir Orlt http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-1074 Thu, 13 Jul 2006 04:24:50 +0000 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-1074 thanks for the advice, Jeff thanks for the advice, Jeff

]]> by: Administrator http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-697 Sun, 11 Jun 2006 03:20:31 +0000 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-697 Hello Vladimir, For me to take home a position overnight it must not be a loser by the closing bell or have scheduled news prior to the following session. I have additional criteria for holding positions at http://www.thestockbandit.com/Swing-Trading-Strategy.htm which you might find helpful. Thanks for your comment! Jeff Hello Vladimir,

For me to take home a position overnight it must not be a loser by the closing bell or have scheduled news prior to the following session. I have additional criteria for holding positions at http://www.thestockbandit.com/Swing-Trading-Strategy.htm which you might find helpful. Thanks for your comment!

Jeff

]]> by: Vladimir Orlt http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-684 Fri, 09 Jun 2006 16:46:36 +0000 http://www.thestockbandit.net/2006/05/14/taking-profits/#comment-684 Jeff What is your rule for triggering an overnight hold? Thanks. Jeff

What is your rule for triggering an overnight hold? Thanks.

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