| Sharck....don't know who wrote that to you, but I can add some advice. Learn some technical analysis and an oscillating tool such as stochastics. Even something as simple as horizontal support and resistance lines are nice because they offer optimal entry points. If you see something has strong support near $50, a pullback to near $50 would be a good buy point. If the price is at $55 and the trend is down, don't buy at $55. Wait until near $50. If it goes to 49 1/2, it broke support and tells you to bail. If it turns up at $55 and you miss the boat, so what? You didn't gain anything, but you didn't lose anything either. For stochastics, it helps for entry as well...If the oscilator is going down on a 5 minute pattern, it would be a good idea to wait until the oscilator hits the bottom and starts to cross before buying. If you don't, you'll be early and the price will slip under your buy point, and possibly get stopped out if you use hard stops. Combine stochastics with support/resistance and you have a powerful tool, especially when they coincide. |
