Emotions....a lesson learned with UTOG

[jackw553]

I got 2000 shs of UTOG last Friday at 1.65. This week the stock soared! I felt like a genius as the price reached 2.25 at yesterdays close. Today the stock was lethargic and by 10.30 am I was thinkin....maybe I should just take the profit. But if I sell, how am I gonna feel when it hits 3.50 or even 4? Kinda like the guy on Deal or no Deal? I sold it at 2.28. Made a nice 1300 or so. Felt good about bailing. I feel even better now because so many other times I have held on because I felt "attached" to the stock. No more. I think I finally learned one more lesson. Onward.

[YoungInvestor]

No reason to sell immediately. Sure, emotions should be left out of it, but why not follow the rise with moving stops? Place a stop loss tight to the stock instead of selling. You might lose a cent or two if it fluctuates downward, but if it keeps going up to 3 or 4 you can stay in the game and keep moving the stop loss with it. Take care and good luck!

[Adrenaline981]

Congrats on almost doubling up, there is a proverb that comes to mind in times like these. It goes "Bulls make money. Bears make money. Pigs get slaughtered." Its better to take the winning and walk away or at least cutting your position by half than risking it all.

[YoungInvestor]

Yes, but I outlined a pretty smart method that would allow one to capture potential upside while minimizing any downside from greed. Just do your due dilligence and move up those stops! :wink:

[8307c4]

Apparently you got stupid lucky, then again the time of your post is well past the time the stock dropped...
If you sold it lets say late morning to early afternoon, why wait until 7:45p to talk about it?
And I'm not saying you are lying, but it isn't helping the truth factor.

[401kTradingSystem]

...why not follow the rise with moving stops? ...

I have not had much luck with stops. They always seem to get executed. My preference is to go ahead and take profits at the higher price.