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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: the navigator who wrote (61794)	3/19/2006 1:08:32 PM
From: chowder	Read Replies (1) \| Respond to of 206184

>>> Why, I wonder, did you close the trade? What did you see in the chart (or were there other factors?) that told you it was time to take your profit and move on, as opposed to letting the money ride? Knowing when to take a profit and move on is a decision I find particularly difficult. <<< You have to go back and look at the original analysis on the trade. Message 21988902 At the time of the trade, the chart was showing demand coming to market and the timing was nearly perfect. At the time, the $41.00 price target was resistance. This resistance is what triggered a steep sell off. That price target seemed the logical place for price to move toward. That price target, at the time, seemed like a logical spot for price to then consolidate. All I'm looking for in a trade is entering in the early stages of a Stage 2 uptrend, capturing that time frame where 80% of a price's move occurs in a 20% time frame. I'm looking for a low risk entry with a high probability of success that the trade will turn into a Stage 2 uptrend. Based on the analysis above, in the linked message, DRIV hit my price target. Therefore, I took my profits. DRIV may go higher. I don't concern myself with that. I identify a trade where I think the timing is right and I play for the Stage 2 uptrend. I don't wish to hold through a period of consolidation in hopes of price making another leg up. The reason for this is that I don't limit myself to potential prospects. I'm able to use my strategies in any sector, at any time, in any direction. I don't limit myself to one or two sectors. So, I'm always looking for a stock getting ready to break out of a base and into a Stage 2 uptrend. In summation, price hit my "predetermined" profit target, so I took the profits. dabum