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Hi - Let's say I have a stock that has performed well and I've held it for a couple of years. It's made a double and then some. I'd like to hold it longer to see if it keeps climbing, but don't want to lose the gains I have. So if I place a limit order to sell at say 10% less than it's current value, will that cause the value to drop because someone sees a cheap buy opportunity? Is that a good plan to protect value earned? I've had stocks that I've held long term only to see a bad month wipe out years of gains. How long do you keep a stock that has performed well and what signs tell me to dump it?
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A good question,but I don’t see that anyone will see your 10% and also it takes big shifts for prices to fluctuate. Would also be interested in views, personally I would favor a 20% drop before selling, in the hope that if there is a big drop you have the opportunity to buy back?
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Unless this is a very thinly traded penny stock and you hold hundreds of thousands of shares, you limit order is not goin to move the market.
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