Should you bring home your profits on days like today?

[smcoder]

Based on the current gains of some of index futures, today the stock market will skyrocket and probably the stock market is already (highly?) overvalued. I always wonder, should you take profit on days like these or should you remain invested?


Thanks,
sm

 

[wrbtrader]

Based on the current gains of some of index futures, today the stock market will skyrocket and probably the stock market is already (highly?) overvalued. I always wonder, should you take profit on days like these or should you remain invested?


Thanks,
sm

I recommend you talk about the specific investments (symbols, date invested, price, goal / profit target) you have and what were your goals for those investments at the time you made those investments before asking for advice from anonymous members.

wrbtrader

 

[maxinger]

No matter what,
Day traders close our positions before we go and sleep.

 

[CALLumbus]

 

[Trader Curt]

No you shouldn't. Don't ever sell without asking me first

 

[Rickshaw Man]

Based on the current gains of some of index futures, today the stock market will skyrocket and probably the stock market is already (highly?) overvalued. I always wonder, should you take profit on days like these or should you remain invested?


Thanks,
sm

Stop trading until you have a plan. Then... trade that plan. Taking profits because your afraid they will evaporate is not a plan. The saying, you can't go broke taking a profit is not true.

 

[Rickshaw Man]

No matter what,
Day traders close our positions before we go and sleep.

Worst advise ever. Do the opposite and see how that works out. Buy the cash close, sell the cash open. Report back.

 

[guest_trader_1]

It depends on your technique, but if you can compound your profits into safer trades that is always a good plan.

By the sound of your post it looks like you are getting unexpected gains. You should have had a limit level where your profits should be cashed in the first place. Now that your portfolio looks green I would say "cash it" and try to understand what you did well in the first place and if it just out of luck, at least you made a gain from it.

A trader with a plan should've never asked that question in the first place.

 

[maxinger]

Worst advise ever. Do the opposite and see how that works out. Buy the cash close, sell the cash open. Report back.

Do what you like mister.
It wouldn't bother me.

 

[El Trado]

Worst advise ever. Do the opposite and see how that works out. Buy the cash close, sell the cash open. Report back.

That worked great for years, but have changed lately.... (Unless it has changed back again and work again?)