In currentThis study wehave examines a no-dividend single stock whose prices observe aexhibiting
regime-switching geometric Brownian motion. Also, the stockpay no dividends. Given the current price ofa stock, the sold selling axiom consists ofcomprises a target price and a stop-loss limit. A “‘sell”’ decision

Comment [A1]: This phrase was highly
redundant, which should not be used in academic
manuscripts. We have deleted it from all theinstances in this part.

is made when the price reaches either the target price or the set stop-loss limit. The main purpose is tobenefit investors. During their financial careers, One investors often pick up the a bad weak stock or thepurchase is made is at the wrong time in reality. So, Therefore, it is necessary to sel sell it such a stock assoon as possible to stop losses. In practice, a target prices, are is typicallyaround a gain of 15 % – 5 5% and a stop-loss limit s generally vary from 5 % to to 20 % . It isHowever,, however, it is not a goodidea to adopt uniform rules for booking profits and losses taking. because Each each stock has different ,has it’s own characteristics. Moreovcer, it each stock should be treated differently with different
Comment [A2]: These two sentences have been
merged as the second sentence provided supporting
information for the first sentence.

liquidation rules .

In this study, wWe consider sets of target prices and stop-loss limits and choose determine those atarget price and stop-loss Limit in that set promise to enhance an expected reward function . We aim, atderiving theseis price limits…. In addition, we get determine the an expected target period and theprobability of making gaining and losing

money. In practice, a frequently used criteriona for measuring

the performance of portfolios is the percentage return pr over a given timeunit time. HoweverHowever,such a criterion has lead to many transactions because of it encourages taking small profits-taking within
the a short holding time period (τ0) . . Clearly,, such a criterion is not-unsuitable to for retail investors,
especially those because whoof the cannotlimited time available for constantly monitor their trading and
Additional additional transaction costs. In contrast, A a discount factor, in contrast reducesules out very
the frequency oft transactions because it replaces the time as a determinant of holding periodfactor is
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Comment [A3]: Transitional phrases that arenecessary to denote the shift in the tone of sentences
should be mentioned in the beginning of sentences toensure clarity among readers.

replaced by discount rate. Theis da discounted-reward function is common natural in many financialproblems.

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Comment [A4]: Voice places emphasis either on
the doer of the action or the receiver of the action.
Depending on what is crucial information, the activeor passive voice can be used.