That's a great article, thanks CIMA, and that is why we regularly remind ourselves on this thread:
ALWAYS check the charts, check the news, and I especially check
the number of posts, and who has posted, on SI. If there has been
a lot of hype, and it's run away, best to stay away, never chase.
Get them, when they drop back, simply because THEY ALWAYS DROP BACK,they HAVE to, it is just part of the mechanics of the market
maker system, and of course, the inevitable profit taking, and if
you aren't taking profits relentlessly, then what the hell are you doing here?
Control greed, learn discipline, set reasonable targets, and stick to them.
ALWAYS reduce risk/reward at the first opportunity. That may mean selling 1/3 or 1/2 a long way from the top, but I'd rather protect my investment, and live to play again, than just slowly let the original pile erode.
A profitable trade, is a good trade.
Get out, when you CAN, not when you HAVE to.
Stocks move in the path of least resistance. If it is hard to buy, it is going higher, if it's hard to sell, oooops, it's going down.
When you have what you want, take it and run, and don't look back. Don't wait, for the market to take it back.
NEVER let a winner, turn into a loser. But we all do, why? Think about it, one answer, always....GREED!
FEAR and GREED the only emotions retail customers know, LOSE them both!
A big gap up, in the morning, is a gift, ACCEPT ALL GIFTS.
Sell into strength.
MM's biggest trick - making stocks look their best, before they make them move, in the opposite direction. |
