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  • Best Exit Strategy

     Anonymous updated 1 year, 3 months ago 5 Members · 8 Posts
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  • Dumb_money22

    Member
    June 16, 2021 at 5:48 pm

    I’m a very new trader. I’m learning when to buy and when to sell. I’ve decided I want to sell my shares a little before the peak and a little after. I have price targets I want to sell a portion of my shares at to cover my losses and then obviously save the bulk for when we hit the moon, but that is where I start to have questions. Obviously none of us can predict how hit it will go, so my plan is to cover my losses at like $500 and if it keeps going up great and if not, reinvest. But will it plummet between the short and gamma squeeze or will it all happen at once? Will the gamma squeeze only be like $120? I’m so confused

  • WesShabel

    Member
    June 19, 2021 at 12:59 pm

    “I’m a very new trader. I’m learning when to buy and when to sell. I’ve decided I want to sell my shares a little before the peak and a little after.”<div>

    -We won’t know the peak until after the fact.-

    “I have price targets”

    -Good, stick to them.-

    I want to sell a portion of my shares at to cover my losses

    -Self fulfilling prophecy-

    and then obviously save the bulk for when we hit the moon, but that is where I start to have questions.

    -We all do.-

    Obviously none of us can predict how hit it will go, so my plan is to cover my losses at like $500

    -What are these losses you already speak of?-

    and if it keeps going up great and if not, reinvest.

    -The “losses” you just covered? Why not have kept them in and hodl’d like we’ve been talking about?-

    But will it plummet between the short and gamma squeeze or will it all happen at once? Will the gamma squeeze only be like $120? I’m so confused

    -We’re all confused man, and this is going to be an extremely volatile roller coaster of emotion and money. Get your shares, have a price target, execute. Expect nothing, just do your own due diligence and stay true to what you believe is possible.

    Not financial advice.-

    </div>

  • Anonymous

    Deleted User
    June 19, 2021 at 6:05 pm

    I have my sell price targets written down. That way when I press limit sell, I know how many to sell at the time and the price. I usually sell when I see the share price close to what I want to sell at limit and not market order. I use TD Ameritrade. I have had an account with them since 2005. Just saying. 🤩

    • Anonymous

      Deleted User
      June 19, 2021 at 8:33 pm

      You make a great point for people just starting out and not use to how to sell their stock. To those people, please learn the type of sell options there are (same for buy options). Sell market and sell limit are very different. There are several others. Have that locked down!!!!

  • Anonymous

    Deleted User
    June 19, 2021 at 8:39 pm

    Have a moving target game plan. As already noted, build a schedule.

    100

    250

    500

    and so on……….

    Plan to recover your initial investment first at a # that isn’t too low, but isn’t part of your end game #. You want that money back. Everything else is gravy. Hopefully lots and lots of gravy.

    At the end of the day, you can’t cry over anything you didn’t really have to begin with. Stay level-headed, be smart about your plays and be sure to speak to a solid tax attorney if you come into serious money. Good rule of thumb, put 40-50% of your winnings aside for the tax man until you have that all figured out. You do not want to spend what you will owe the tax man. That’s the biggest message to get in all of this.

    • Curunir

      Member
      June 20, 2021 at 12:01 pm

      +1

  • Curunir

    Member
    June 20, 2021 at 11:56 am

    And be ready for volatile dips and spikes in price, especially if setting sell limits on the way to up cover potential losses.

    Example, you have some shares marked on your paper for $500 as a safe recovery point. When we just hit $500, don’t set a sell limit. Even when it gets up to $600 may be risky setting a sell limit for $500 since it could absolutely drop to there then bounce right back up. If we’re having lower highs and higher lows still we are likely still trending up. Once we hit $650 or so and those dips are all staying well above $550 then maybe you’re safe setting that $500 sell limit on that chunk of stock. But, once we’re holding well above $750 you may want to modify the order to sell at $600 instead so you don’t even drop as far as $500.

    Those numbers are all obviously just references to try to show the point. Limit sell orders are a good way to secure some steps as you go up. Think of them like the anchors mountain climbers hammer into the cliff to hold their rope at various points. They will secure a portion of your stock to be sold off no lower than that point. And in a tradtional market they are far easier to predict. It only takes a quick review of the last few weeks to see how we can easily drop 30% in just a couple hours, only to recover and set a new high a little later.

    You need to make the decisions that are right for you and your life, and don’t risk more than you can, but also don’t let fear drive you.

    • Anonymous

      Deleted User
      June 20, 2021 at 3:20 pm

      Great points. The most important take away from all of this is to expect a wild ride. Best of luck to all!

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