Thursday, September 24, 2009

Closing Quest Uranium Corporation QUC.V


I said on the 19th of August that I would keep a core position in Quest Uranium Corporation QUC.V and enjoy the free ride. And this stock rocketed and showed a profit of 224%. Around 170% I bailed out and stopped following this stock so this percentage last will be added to the results on the right for September.

Some traders don't know when to exit a trade so when for example the stock runs up to 224% and then everyday it looses a bit, first it goes to 200% then 180% and so on, before you know it, you are back to square one.

So at a certain point when you have a nice profit and when it goes down for more then a few days, breaks resistance, and/or trend lines or maybe the news is bad please exit the trade. That way you free up your money, take the profit and can look for another trade. When a few days or weeks later the stock still goes up, well never mind you did good and took your profit.
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