I will never again lag in taking profits off the table. Will follow indicators and be happy with a decent return as opposed to assuming that I can tell the future of a move and set profit targets.
I know that I will still make mistakes and hold for too long, and that sometimes there will be more to a move once I am already out, but that's better than having to hold a stock for a month waiting for my profits to return when they are lost due to a standard 'profit-taking-caused' retracement.
I know I can do this, because I keep watching stocks go the way I expect them to. The primary problem in my strategy is not taking off profits before they are lost. You are a day trader, do not hold forever! Losing profits on the dips is for fools. "Buy and hold is a loser!" Don't get caught in the trap.
I need more money in my account.
