RE:A little info re: McWhirter Depends on risk tolerance also. How much you are willing to lose if things go south.
When stocks are really running I like to use a traling stop limit order.
Example: 2 to 10% trailing stop loss with a 5 cent to 50 cents offset to prevent gap overs.
Many ways to set it. Just a precaution to get out with a profit or with as little loss as possible.
rainorshine59 wrote: He said he bought at $1.22.
He likes using a 7% Trailing Stop Loss...so he basically was risking any downdraft back to about $1.00-$1.10.
Keep that 7% number in mind.