Hey KangaFull respect to you and I can feel your pain since ive...

Hey Kanga

Full respect to you and I can feel your pain since ive been in your situation many times Im not a preofessional and lose consistently

Without knowing your financial situation the only advice I can give you at the moment is stay out until a confirmed uptrend is established and that is with most stocks. The strongest stock in the market CBA has dropped more than 10% in the last two weeks


A new uptrend is only likely to be established when the greater market has turned. And BTA continues to fall without atleast a minor correction. That does not bode well.

The only way to conserve your capital if your wish to be part of the trade is to look for points of entry at support levels. Set a stop loss just below these levels to allow for spikes down. Without using too much TA if you stop is hit then its telling you to keep out since it may be going lower. The stop forces you out of the trade and hence allows you to reasses your position without losing more money by staying in a losing trade and by waiting for price to turn. The stop less allows you to be in a winning trade if price goes with you and is your best friend when price goes against you by getting you out early.

Remember a correction is not necessarilly a new trend. By placing a stop loss and if price goes in you favour move you stop to break even or higher and just leave it. You then can lock in a profit and no loss and let it stay there as a long term trader. You dont have to be a trader to use a stop loss

P.s I hope that helps

P.p.s Remember a stop loss allows you to enter and be part of a trade and minimise your loss if the price continues against you, in essence it gets you out if support breaks and your original decison was wrong

P.p.p.s A stop loss if used properly will preserve your capital and from what I read that is your major consideration at the moment

P.p.p.ps $1.02 is support then gap fill at 96c these may be two good entry points with stops if you really should be part of this suicidal market. Personally I would stay out but again Im no expert