Taking profits

Wednesday, 13th May 2009 15:38 - by Boredmum

You may have read one of my previous Blogs, entitled ‘To trade or invest, that is the question’. I had stated that since the start of 2009, I was making money and doing well. I feel that I have been coming out of shares too early and missing big rises, as covered in my ‘Timing is crucial’ Blog. I recently decided that I was going to hold onto my shares for a bit longer to try and catch some decent gains, rather than the usual 10% or 20%. The trouble is, I have now watched shares like TMC, MWA, ENK, and HRCO all move into profit and back down again. I could have taken decent money from trading and moved capital into my next trading position. It’s a tricky one and I am finding it difficult to decide what is best. I’m sure if one of the above shares reaches my target, I will be convinced that holding is the best thing to do. It’s just that in holding, I am struggling with patience (or lack of it!) and boredom because I am not always looking for my next trade. Any thoughts would be appreciated. What works for you...is it best to take profits when presented?