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Biotech / Medical : Arena Pharmaceuticals (ARNA)
ARNA 99.990.0%Mar 15 5:00 PM EST
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To: Robohogs who wrote (2220)2/24/2014 8:54:34 AM
From: The Ox  Read Replies (1) of 2274
 
I don't think there's a single right answer for everyone. One of the most important factors is risk tolerance, where you need to gauge a combination of factors. Position size, risk/reward or stop/profit taking targets, time, and a few others, are all variables which should have clearly defined limits when a trade is placed.

Since my positions are relatively small in the grand scheme of things, I/we do very little hedging on individual positions but I would add that there are plenty of ways to include option hedging within our trading scoop.

Obviously, you don't want too tight a stop process which doesn't take into account market "noise". Some flexibility should be allowed but it's my belief that your downside target is the most important parameter and is where many people fail to have the discipline to stop out of a trade. Hope and/or fear can play a heavy toll if not kept in check.
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