Day traders' after-market lounge March 18, page-14

Hi aceryx

I use 2 emotional rules and I never deviate from them.

Patience

If the trade isn't there, don't be tempted by something that is almost there.

Ruthless

If a trade goes the wrong way on me, I'm out, my tolerance is 1.5%. max.

It is also very important as to how you place your money, I select a share and if it drops 1.5%, I sell, however if the price increases by 1%, I will buy more,
today ABB triggered a buy, 10.22 first trade buy @ $3.40, I watch the share very closely for a break either way, @ 10.33 ABB hit $3.44 and dropped backed to $3.43 and so I brought another lot, I am watching and waiting, then @ 12.25 ABB hit $3.45 and I brought another lot, I now know that if the price drops that I will get out with a profit, watching very closely, @ 1.04 ABB hit $3.48 again I brought, @ 1.16 ABB hit $3.50 witch I brought again. I now have hit my trade limit and put in a sell order @ $3.54 witch was hit at 2.01.

ABB hit a high of $3.61 and then retreated $3.54 so I brought some @ $3.55 and I'm looking forward to 10.00 tomorrow.

I hope that helps