I had a certain successful 20 day holding period trade last month. I had two targets for the move in the stock. My plan was to take the trade off at the first target, redeploy funds on a pullback or buy back if the stock moved up and through the target–since I have another higher ultimate target price in mind.

On the day last week when the stock kissed the first target price to the penny (also happened to be a round number) I was sitting with my hand on the sell button–the stock churned and loitered around acting odd, some flash bids came in and for an instant I thought that the stock could blow right through the target and up towards the ultimate goal–a whiff of greed entered in. As soon as I felt that greedy impulse to not follow my plan –I sold.

20 minutes later the sellers came in and down it went.

Know those triggers of destruction and use them to your advantage.


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