remember that stocks usually fall faster than they rise so if my read on the market is correct and the selling starts to accelerate soon, i will not be able to keep pace with posting updates on many of the trade setups that are triggering entries; active trades that have been stopped out or hit targets; etc.. have a trading plan in place and know the entry and exit levels on all of your holdings as well as your watch-list/trade candidates. on the flip-side, if my primary assumption is wrong and any pullback is bought up aggressively then the market can shoot up very fast as well. therefore, those who are bullish might only have a brief window to enter the longs they are watching for a pullback to support. in a fast moving market, timely entries and exits on trades will have a big impact on your total profits (or losses if too slow to exit a losing trade).
take advantage of using price alerts to inform you when your preferred setups have triggered an entry (or stop) or when a potential trade you are watching has pulled back to support for a long entry (or bounced to resistance to short). my preference on exiting trades at or just before my predetermined target(s) level is to use standing limit orders, GTC. i’d rather miss an entry on a potential trade than an exit on an existing trade that has hit it’s price target as those gains can vanish quickly if the stock reverses. for entries, i prefer using price alerts to inform me of the breakout or breakdown, that way i can assess the trade candidate at the time of the breakout along with the broad market and make sure that both confirm an entry.
fyi- last night i had realized that i overstated the return on the CWTR trade that hit T1 yesterday by using the incorrect entry level to calculate the gains. i added this note to that post: edit: correction- the total gain to T1 from entry was only 14.3% & not 25% as stated above. this trade was posted active at .70 on the day of the breakout.