Target and Cut Loss Price

I'm going touch a little more about target and cut loss price for my trading methods.

Target Price
My target price changes over time so I usually do not post a fix target price when entering a counter. Just for everyone reference sake, I'll only post a realistically achievable target price when the market approaches it. During the intraday period, I will take profit the moment the stock touches my target price. Even if I miss it (i.e the counter touches the price and swings back down), I will sell it at the market price. My reasoning for this is simple, the reason why I usually take profit is because I felt the stock has reach an overbought state and should be turning south. As such, I have no intention of holding it any further should the counter price drop in the next few days.

Cut Loss Price
The cut loss price is usually fix upon entering the market. It's usually a pretty strong support level. I DO NOT cut my losses during intraday period when the stock reaches the cut loss price. This is because I expect a decent amount of  transactions nearing the price. At times this causes the stock price to overdrop beyond the cut loss price only to rebound strongly. What I do is to wait till nearing of market close, if the counter is still trading below the cut loss price, I'll sell it off. If it had rebounded by then, I'll continue to hold.