Short Term Trading - Weekend Lounge: 30 Jun - 2 Jul, page-175

  1. 13,097 Posts.
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    When to buy? As close to brokers/dirs as possible.

    When to sell? Have a trading plan that works for you and let that stop you out. For some it's free-carrying a %, % win, trailing stop. And sure - use a chart if that's what sits best with you. Would be lying if I said I didn't look at S&R sometimes. Not against looking how price is behaving wrt various MAs either.

    Charting, FA - whatever. Worst thing you can ever do is blame brokers or bots and other conspiracies. All it does is take your focus away from the lessons that are there to be learnt in the market.

    You only lose big money when you ignore rules and don't have a trading plan. If you chase and/or neglect to use stops on specs, it's not the fault of brokers or bots. You gotta own it if you want to get better. You seem pretty switched on, so focussing on group downramping of MM stocks or broker pumps, will only distract you from valuable research time and fine-tuning your system.

    Never lose more than set amounts on specs, in-line with your trading plan. If you can't fit those parameters into stocks that trade in 001 increments, then avoid those stocks. If a stock is too illiquid and you haven't developed a sound trading psychology, avoid them also.

    You're already much more across the rules of the game than I was after two years in the market. Just stay focussed on your own strengths, have a clear plan and continually work at refining it. Enjoy your wins and take full, no questions asked, responsibility for your losses.
 
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