Hi everyone, wanted to ask opinions, especially those of you that take earnings like Andrew, in successive steps rather than at once. For example, you get out 1/3 of your position once you make enough to cover commission, another 1/3 once you reach target and you let the rest run as far as it will go. I love this idea, however if your account and therefore position sizes are small, how would you take your profits? I typically trade 100 shares at a time, and I find it extremely difficult to be able to break this down due to high cost of transactions and low position size. Even with 3 dollars commission of CMEG, that's 6 cents + spread you need to make to break even, and if you break this down further, the costs and required break even levels will go up pretty fast.
Some options I thought of were:
- Trade equities that I'm able to get at least 200-300 of rather than 100. This limits my selection quite a bit, and I'd rather not trade low float all the time, too risky.
- Trade out only at target or stop loss. This can reduce earnings and increase risk, and with a smaller account, I'd rather turn my losses to break even as much as possible.
Obviously I don't like either of these solutions, but I can't think of any alternatives. I would love to hear if anyone has found any solutions to this problem.
