Successful Trading – Taking Profits - Part 2

Written by Chuck Cox

Suppose your position has made a big move and you moved your stop to your purchase price as recommended. Then let’s say your stock continues to make a big move and now we’re asking againrepparttar questions we asked back inrepparttar 148591 first paragraph. The first profit taking technique you can use is a trailing stop. If you moved your stop to your purchase price, then you’ve already used a trailing stop. Now you can continue to move your stop up asrepparttar 148592 price rises untilrepparttar 148593 market “stops” you out ofrepparttar 148594 position. So in essence, what you’re doing is lettingrepparttar 148595 market decide when to take profits.

Bear in mind that you don’t have to userepparttar 148596 same price gap that was used when you first set your stop. That initial move was done to protect your account – once you’ve takenrepparttar 148597 threat of a losing trade away from your account, you can do most anything with your stop after that. One approach that some traders use is to place their stop atrepparttar 148598 half way point between their purchase price andrepparttar 148599 present price. This approach is giving half of your profits back torepparttar 148600 markets, but it’ll keep you inrepparttar 148601 market longer givingrepparttar 148602 stock plenty of room to move. A variation of this approach is to move up your stop torepparttar 148603 75% profit level after a period of time has elapsed.

Another profit taking technique for traders is

Balance Your Checkbook - A Vital Habit to Develop

Written by Thelma Coleman

As we matured into adulthood,repparttar whole process of growing up and making a life of our own entailed a great deal of new responsibility. Let’s face it, nobody wants to deal withrepparttar 148541 chores of daily living, amongrepparttar 148542 most dreaded and overlooked being management of one’s finances. We all love money, that’s what we all work so hard for, to earn money and save and spend it as we see fit. Unfortunately, earning money also entails keeping track of your expenditures in order to be fully aware of how much money you have to spend, and how much you’ve socked away forrepparttar 148543 future or a “rainy day.”

Bounced checks can have an adverse effect on your credit score, depending onrepparttar 148544 reporting policies ofrepparttar 148545 financial institution involved. I think that we can all agree that spending a little time with your calculator and checkbook beatsrepparttar 148546 daylights out of dealing with bounced checks,repparttar 148547 not so insignificant fees associated with them andrepparttar 148548 deleterious effect on your credit rating. You’re in our program to get your credit under control and eventually rebuild your credit Balancing your checkbook is fairly easy, especially if you take a few simple steps to streamlinerepparttar 148549 process. Every time you earn money and deposit it in your checking account, write it down in your checkbook ledger. Or if it makes it easier, buy a separate ledger and use that (they’re often larger thanrepparttar 148550 one you get with your checkbook). Also take an envelope and set it aside for receipts you get when you use your bank debit card to withdraw funds (or make a purchase) so you can calculate your account balance as accurately as possible.

The same goes for other spending you do. Make a point of writing everything down. If you forget even a single item, it can result in undue time and effort trying to reconstruct these expenses from memory or to purchaserepparttar 148551 information from your bank. In fact, you might do well to make a habit of saving every receipt, maybe in a shoebox or something like that, so that you always know that between your ledger and your receipts you have everything you need – even if you forgot to record something. But this must become habit or you’ll only end up frustrating yourself even more.

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