Mike,
Actually, the "Out of necessity" means that I feel that the long term holds play a VERY necessary part of anyone's port. These are my retirment stocks. As I make gains on my day trading, a set a small portion aside to buy more longs. I have found a nice mix and I would recommend it to anyone.
The nice part about trading is that current market conditions can work in your favor regardless of whether it is up or down. I don't think the rally has been overdone and I believe we will see 9200-9500 by end of year .... IMO.
If you are intermediate term trading (once or twice a week), trade only those stocks which you are comfortable can be longer term holds. A nice protection hedge.
My trading capital that I trade with daily in my trading account is about $40,000. But I rarely have that all in one play.
The two factors that move the market, as you know, are fear and greed. I have no problem selling into strength, goal reached or not. But I like to have a goal to give myself a measuring stick to say, "Hey, you have made what you wanted, sell the sucker". Often it can be difficult to see an issue run, and then pull back. The common reaction is to hold on hoping that it will run again. That is where my goal comes in.
Good luck.
Jeff
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