I'm more pragmatic about it --I won't take more than a $200 hit on my account. For RIMM @$75/share, I mentally raised it to $400 - $500 and I almost got stopped out today too! So yea, I watch the "unrealize" Profit/Loss window of my real-time Portfolio stats. And I do try to get out when I'm +$1000 (my profit target - but i'm flexible about it) in that window. I find it easy to click the trade button when I see the portfolio's value moving whichever way.
But, I do keep an eye on the PRICE of the stock as there are natural levels of resistance/support e.g. whole numbers (mainly) and halves (.50's) and to a lesser extent, quarters (.25's).
So while I got the trade underway, I keep shifting my eyes between the Price of the stock and my portfolio's unrealized value. Back and forth, back and forth --until one tells me to hit the buy/sell button to close out my position.
I also found that there are natural time stops that you could use too --perhaps not to actually exit but to at the minimum tighten your stops somewhat or even to add to your position. These time stops happen often times with spooky regularity...
<-gapster->
