thanks again for the kind advice, i'm not at the level where i 'can' stop loss all the time without second thoughts, since it would be mentally very draining to have consecutive stop losses being hit. but the concept its a bit more straight forward than the issue of locking profits and trailing stops.

i've been trying to look at trading as a game of expectancy and statistics to slowly eliminate emotions from the different position. like everyone here points out, there's always another trade around the corner. follow the plan religiously and the math should work in your favor

happy trading all!

thanks mr profitman, that helps a lot in terms of how i should set up my trading plan. exits on winning positions are always the toughest since it involves greed, which is a more powerful emotion than fear. the initial stop loss can be executed immediately without much second thoughts.

once again, really grateful for your explanation

Thanks for your explanation sir profitman, look forward to your further comments

Thanks Mr profitman and Matrixcool, really appreciate the kind spreading of your wisdom

yes having a trading plan is absolutely critical to reach trading nirvana of trading without emotions.

1) some further questions on the issue of identifying targets. for example this note on Penta

PENTA (7160)—It is very bullish and is expected to break above $0.69 to try its previous high of $0.745, once Penta can stay above $0.70 it is expected to move to very high target of $0.80 and $0.88. Any weakness should find immediate support of $0.65/$0.63 and I would strongly advise traders to accumulate for this counter. . Stop Loss if $0.575 is violated.

how would you set a target of 0.80 and 0.88? I noted that mr matrixcool doesn't use fibo numbers to set support and resistance, but would 0.80 and 0.88 represent fibo numbers as well?

2) on locking in profits/partial profits once target is hit: in the previous example given. say i bought a stock at 1.00 and my target is 1.20 (set by fibo numbers or previous highs). the stock then hits the target of 1.20. do i sell half/a third (or a given portion) of the position, and then set a trailing stop of 1.18 on the remaining portion?

i can see this would work for the majority of trades that would move maybe 20-30%. but would you lock in profits for trades that can move 100% at a time, for example Evergrn? if say you've set targets all the way, you would have locked in partial profits along the way until the last remaining portion hits the stop loss. in this case, only the last remaining portion would have rode the stock 100%, the other portions would have been sold at 20% , 40%, etc price targets. that's my confusion on when to scale out/lock in partial profits or set stop loss.

Thanks again for your help! i do apologize for my many noob questions

Hi venerable great people of TCB, thanks for all your kindness and help. It's really amazing how everyone share their knowledge unselfishly, especially to mr matrixcool for starting this project.

please forgive my ignorance, but i've got a few queries which i can't seem to figure out

1) is there a particular scan TCB runs to build a watchlist? which indicators would be used, ie MACD/RSI crossovers or the like? I can see most stocks are in stage 2 aka stan weinstein's stage analysis, but would there be any criteria used to narrow down a watchlist?

2) are there any market filters employed in the trading plan? ie if the index is on a downtrend/market breadth is declining, would the trading plan calls for one to stay out of the market?

3) would there be any rules to lock in profits? I really enjoy sir matrixcool's post on evergreen, was curious on what trailing stop is used in this trade. would this be a percentage based trailing stop? or is the stop based on previous support/resistance line? would there any rules on locking profits ie selling half the position after the profit is twice the initial risk? are there any rules to differentiate when to scale out or use a trailing stop?

4) i've been trying to look for notes on position sizing and money management. is there a rule of thumb on how many position should one hold at one time, (4-5 maybe?) and what should be the risk used on each trade (1-2%?)

many thanks in advance for your wisdom

brother woo, would really appreciate if you can send the book to

hysanburgtech@gmail.com

many thanks

Trust in Calvin and Optimus. Disappointed with nole :(

haha

Lynn cheah seems to be equally as panlai so patik kurakura assume is king leno lorh

Lynn cheah = leno?

choose yourself - james altucher

calvin this is really great stuff. the day you stop spreading your knowledge would be a very sad day indeed

http://www.oldschoolvalue.com/blog/giveaways/the-education-of-a-value-investor/?lucky=298

Bone clinkz's ulti is not reaper's scythe

http://www.netnethunter.com/should-you-really-avoid-money-losing-ncav-stocks/

thanks Calvin, please keep up the good work uncovering great stocks and imparting great investing knowledge

Hi Calvin, PMCORP is no more on your list?