I have just been going over my trading plan looking at how i set my targets for any given trade.
At the moment i am looking at applying a 15% target to a trade, now given the price of any stock and that the potential to make that 15% is there within a few weeks then thats fine.
However i have come accross a few oppotunities where i can see an entry on the stock but because the price of the stock is relatively high that same 15% price move could take a hell of alot longer.
My opinion on this situation so far is to leave it alone and move on to a trade that better suits the timeframe i want to trade in.
I suppose if i had a much larger capitol base it would be more suitable to use these type of stocks for longer term positions?
Anyway just curious on how you guys set your targets, is it specific for evry trade or do you just make your mind up at the time?