Quick Trader Thought - Cut short your losers, LET your winners run...

As I'm updating my journal with today's trades, I can't get this thought out of my mind. I'm sure you've all heard it before but it is probably one of the hardest lessons to learn. I'm pretty good at cutting my losers but I tend to take profits too quickly. Yes, a profit is a profit but not when AMGN is printing $61+ f'n dollars afterhours. When I first saw AMGN's chart last month, I was targeting a run-up to $52-54. I picked up $6+ dollars from $45 to $51.50. I sold a couple weeks ago and had every intention of re-entering. Look at the 5, 10 and 15 moving averages. Throughout all the market turmoil, AMGN has been steadily climbing...with no reason to sell. Now we know why..."positive top-line results for denosumab pivotal postmenopausal osteoporosis trial". Crongrats to those holding some AMGN...this pretty chart should become GORGEOUS on Monday!