This applies to short as well as long, as long as short term play is involved.
1. For any stock you are interested to trade, image somthing unimagable, when the unimagable pappened, it's good time to play:
2. When the target is approching, don't jump in prematurely.
3. And when the time arrived, Don't be affected by the then pschology of the market, take action!
4. If the market goes against you, Try to stick on for at least a while.
5. If the market goes in your favor, let the profit run.
WARNING: For each stage from 1-5, the degree of difficulty doubles. and think of this before you trade:
if your jumping prematurely, you can loss a lot of money.
if you does not take action, you will kick you self for not.
if you can not stick on the plan if the market overshorts your target (It almost always does), you loss small money.
Only if you can master all 5 stages, you can make a lot of money.
As for myself, I cann't even master the second stage, (for example, I posted in IMOG forum suggesting to buy IOMG at 35, but jumped in at 38. And this is not the first time I made the same mistake.)
Boy, it is hard to trade this market. |
