STOCK TAKING
STOCK TAKING
What is an acceptable profit taking point for a stock trade?
I have a Scotttrade account and was considering investing about $20-30K in one or two stocks at any one time. I might be able to stay out of daytrading status.
...But I was wondering if selling a stock on average every 3-4 days at a stock price increase of around 10%, if it is an acceptible profit?
All that would be lost is the $7 trade fee, and maybe 30-40% for taxes. That would leave about $1200 in profit for 3-4 days investing right? or is this way to simple in theory?
hmmm 10% is just a figure i threw out. What would be an acceptable rate?
On average, the S&P 500 index has been up 0.1788% over 4 trading days between 1993 and today. That means over the past 13 years, you'd have had an average increase of about $36 in the 4-day period on a $20,000 investment. Doesn't leave much after round-trip commissions.
You best 4-day return would have been 13.6% and your worst 4-day return would have been -12.3%.
So, unless your stock-picking abilities are remarkable, I'd say yes, the theory is far too simple.
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