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Strategies & Market Trends : NeuroStock
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To: CatLady who wrote (426)11/28/1998 1:10:00 PM
From: Len Giammetta   of 805
 
<In real-life trading, I suppose the way to handle this, assuming you're already long an issue making new highs, is to set a tailing sell stop instead of an outright sell order when the signal changes.>

Of course you're right about that. Knowing when to sell has always been my Achilles heel, and setting those trailing stop losses for maximum profit are harder than it appears. There are different theories on the subject of at what price to set the sells. The most recent I've come across recommends setting the limit at the last cyclical low minus a half a point, the theory being that at that point the stock has broken its support and is likely on its way down. I've experimented with setting the limits at different percentages below the current price, but many times there's a real risk of being stopped out only to watch the stock take off again a few days later.

Anyone have a pet theory that works?
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