Edwinhsu wrote:Hello, newbie here. Thanks in advance for your help.
Quick question about trading the weekly stock picks. Once a pick breaks out and the buy order is triggered, when do you sell? Do you set a hard sell target, or do you put a trailing stop loss and ride it up as far as you can?
For where to sell, right now, there's no answer. Generally you want to ride the trend, so you can sell partial and use breakeven stop loss (or as you said trailing stop loss) to ride the trend up.
As for where to sell partial, really no answer, it requires experiences. Cobra draws 2 blue lines around the base, the theoretic target is calculated as the spread between 2 blue lines added on the upper blue line. Another way is, say, your stop loss is $1, then your target at least is $1, this way, your gain to loss ratio is 1:1 therefore if the base and breakout has above 50% winning rate, you'd win in the long run. Again, there's no right answer here, all depends.