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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Richard Estes who wrote (7233)	12/10/1997 4:23:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 12039

Some thoughts on the "market" 1. Don't make decisions based on your or someone else's idea of what the market will do. That is not to say, you don't track the market. When you are buying or selling a stock, it should be your focus of emphsis. 2. Don't listen to the media or brokers. Don't buy any stock based on someone view, buy it on your own. If you use an indicator or a system developed by someone else, don't use it till you have tested it and made it your own. 3. Don't trade unless you are sure of sucess. You don't have to be in it, all the time. 4. Have an exit plan. don't take more than a 10-15% loss. A 10 % on a $5 is .5, 10 is 1, 20 is 2, 30 is 3, 50 is 5, 100 is 10 points. Look at charts, if a stock falls 10% from buy, how many fell more? 5. We are in the biggest Bull of our lifetimes. Stocks don't always go up. There is no stock that is too high, there is no stock too low. 6. Don't marry a stock. 7. Most systems provide an entry and an exit, once you miss it. you aren't following system any longer.