I've heard 7 to 8% is good for a stop loss, Whats a good % to take profits?

readytoretire answered 8 months ago …

It depends on the situation. If you bought the stock as a trade, after the reason/event that you bought it for, you should sell then. Most people change it into an investment at that point and end up saying, if only. So after the event, sell it regardless of the outcome. If you bought the stock for an investment, I try to plan my exit. I normally start at 10%. If I hit that point quickly, and I think the stock has some more room to run, I may sell a portion of the stock. I would hold on to the rest and continue selling a percentage as it goes up. Soon you find that you are playing mainly with the bank's money, as you have recovered your investment. At that point, I will let it run wild, but I put a trailing stop on it, so when it turns, I get out close to the top. Remember, pigs get slaughtered. So don't try to milk every drop out of an investment.