In my observations I have noticed when a breakout with volume happens and it closes on the high after a late surge, more often than not, it opens higher the next trading day, hence why I resisted the urge to sell at New highs.
Plus the fact that new highs mean you're in an up trending stock and I don't want to limit my profits. I'll have a wide trailing stop in place to give it room to make me rich.
I'll never sell a New high.
I will set my stop at an appropriate level below support zones.
I could try to trade the ups and downs but it's a guessing game. I'll end up holding onto losers on the way down, and never be holding winners when they really take off.
Something to think about if you're new to this game, and one of the reasons most newbies lose money. Have a plan that doesn't lose you money over time when you repeat it. If nothing else read about trading psychology and realise your humanity and emotions are your enemy. plan plan plan, stick to it. Even if it's a terrible plan at least you won't be stuck in a position you weren't expecting.
All in my opinion, and the fact is some people love to take a big gamble with no safety net and good luck to them, it used to be me until I educated myself.
GLTAH
NOR Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
