 Secure profit What's up money geeks Mr. V here welcome to another video guys so into this video I want to talk about how to secure profit because I've been getting a lot of questions from some of you guys asking me about When to secure profit you got in a position you were up. You don't know when to exit that position So that's what I want to cover into this video But before we get started guys, we are new to the channel We talk about how to earn money how to save money how to invest and build wealth So if that's something that interests you go ahead and hit that subscribe button and the notification bell So you don't miss out on new content So if you are in a position and you are up in that position That is the best place that you want to be at least I'm happy that you are in the green But what do you do to secure profit once you are in the green again? That question depends on your main reason for investing So there's two types of investors or two types of people in the market There's people that are trading which means that buy and sell frequently to make profit and there's people that Investors so that buy and hold and let it grow over time that using the power of a compound interest To grow your money over time So if you are somebody that is an investor you don't really have to worry about this because the reason to sell Would only be that either you want to just sell everything and move that money to a different Stock or you want to sell and cash that money out but for your most investors It just let it ride and what they do is each time there's a deep the buy senders a deep the buy But for people that are trading When you get into a position and you're looking at to get out You don't know when to get out what that tells me is that you didn't plan to get into that position You didn't have a game plan So moving forward what I want you to do is have a game plan when you are going into a position Grab a notebook paint on paper Sit down and say okay. I want to get into this stock say for instance. You want to get into riot R i o t Okay, what's your entry your entry point my entry point would say 25 dollars and what's your exit point 30 dollars So you put that game plan down and then you go out and Execute your trade but executing that trade is not good enough. The next thing is what is your exit strategy? Yes, you want your target price to be 30 dollars, but what's your exit strategy? That's something that you have to develop as well So for me the way it really works is if my target price is 30 dollars Once it hits 30 dollars and if the price continue to move what I would do is I would put a trillion stop You put a trillion stop and again in rebow. It's easy for you to do that to put a trillion stop So you decide How much you want to put to trail the the last price again the way the trillion stop works is You actually you can go either by dollar amount or by percentage. I use percentage because it's easy for me So let's say you buy a start at 25 dollars. It goes up to 30 and then you say Set a trillion stop at five percent. So when the price of that start drop five percent Below the last price it would sell you out. It would just create a market order and sell that stop and get out So once you go over 30 And that's where you put that trillion stop so that in case you ever wanted to pull back You would it would just sell and get you out The beauty about that is you don't have to sit there to the first seven and watch the start And in most people would actually say or they missed it because either they were working Or they turned it back for a second and turned around Did that the start went and hit or get got close to where they wanted to get out and then They didn't see it and they missed it and pulled back So that is something that you can do Once you see it hit that price and put that trillion stop and walk away And then it will do the work for you. So again, I want you to have a game plan Your entry price your exit price your your target price and your exit strategy Some people use a stop loss and others use trailing stops I mean trailing they have the advantages and disadvantages Trilling stop advantage would be that You can get the high amount So if you put a trailing stop just five percent of the last price That's what it's going to kick you out at but if you put a stop loss it fix It doesn't move because your trailing stop follows your your your the last price as it goes But your stop loss you just have to pick a particular spot and put it there It can go up to $37 and if your stop loss is at 30 It's going to come back down to 30 and kick you out But if you have a trailing stop Once you put it up it goes to say 37 5% of that as price is that pulling back is going to kick you out So you're going to be looking somewhere around 36 dollars You see in that way you're securing more of your profit that's supposed to just your traditional stop loss So that's why you're supposed to have that game plan again guys I know this is probably going to be a boring video to a lot of you guys But I wanted to make sure that I give this to people that are in need because I've seen the question come up over and over again I'm in a position. I don't know when to exit the fear of you know missing out So again, if you are greedy in the market the market is going to smack you just be careful because when you set your target When you hit it guys take that profit Don't be a greedy savage secure that profit in any shape or form because until the profit is secure It's not your money just yet especially in the market because I think it can go up here It can go down here. It's just as easy So I want you to be very very aware of that and uh, let me know in the comment section If you do have any questions in I might have to do a video here on the channel showing you guys Exactly how they put the stop loss and the trailing stop because I did a video in the past But I'm going to do another one right now with a really active Trade going on. I'm doing this video after hours and trailing stops don't work after hours So I want to do with doing uh market hours so I can actually do Show you guys how the trailing stop does work. So let me know in the comment section What you think about is again, have you used trailing stops? Have you used stop loss? What is your exit strategy as far as when you go into a trade again? Let me know in the comment section if you're new to the channel We talk about how to earn money how to save money how to invest and build wealth So if that's something that interests you go ahead and hit that subscribe button Any notification bell to you don't miss out on new content And also if you are looking to get started with investing guys Rebo is doing your promotion where if you sign up and the pass the hundred dollars You get two free stocks links in the description below and as always guys Do your two diligence. Don't be a greedy savage Stay motivated