self fulfilling prophesy, page-14

Kookeboy, my general rules.

1. Only buy into stocks that are trending up. (NDO classic example on the weekly the 10 day and 30 day emo has crossed.
2. MACD to be ticking upward. (Again NDO good example there it had just crossed above its centreline.
3. Don't buy in unless a) There is enough potential profit in the trade. b) If you can't set your stop below the nearest support or trend line. (again with NDO my stop loss is at 19c
4. ALWAYS act on your stops, you can always buy back in later and probably cheaper if it all goes pear shaped.
5. Never chase the price there's nearly always a retracement and in this market most stocks are breaking out and retraceing usually back to broken resistance, if it bounces off resistance then look to buy in and set just below resistance/support.

I can't stress enough how important money management is. Calculating your potential profit and stops before you enter is essential. It's your roadmap to profits or a quick exit should you be wrong.

By the way I am often wrong in fact about 60% of the time on average, but when i'm on a winner I ride it as far as it will go using a variety of trailing stops to tell me when the trend is over.

READ READ READ theres so much info on the web and loads of books. Be pationate about it and don;t let the losses deter you, learn from them and vow each time never to make the same mistake twice.

Well hope that helps. Good luck and go for it!!

Funky