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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?

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mark-expat, it's still a tricky one for me. I think yes, it is wise to take profit but it's hard if you suspect a bid may come and you decide to hold. TMC and now MNR with possible bid situations and it would be nice to be holding prior to the hype and seeing it through for a possible multi bagger. Of course if nothing comes of it I shall be kicking myself for not taking profits.

boredmum - Fri, 15th May 2009 08:48

"is it best to take profits when presented?" defo .. always be light on your feet and if you 'have' to retain , trade any likely weakness via a short within the sector

mark-expat - Wed, 13th May 2009 16:18

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