Hi all, have been learning a lot from this thread so thankyou everyone .
Have spent a bit over a year absorbing and finding charting techniques that work for me, but the last month I've focussed on improving my trade management and strategy. The knowledge library is an awesome resource and have found many great techniques to improve what I've got so far. I was just reading through a bit specifically about identifying potential selling areas and this post by @mouse about selling a trend stock sounded like an interesting (and simple) method to add another angle, but I don't quite get how to do it. I was hoping someone might be able to add a bit of detail.
Here's the quote from the post: "Always try to find a value on stocks as this is the best way to tell you where the SP could head too, easiest way to do that is compare it to others, have look at charts and see were others have tapped out at, translate the SP to MC and now you have something to work off, i then give a discount of 20% to the value as a buffer zone. Once it's in that zone then it's by by and on to the next one."
Thanks, Rooster.
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- Short Term Trading Weekend Lounge: 9-11 August
Hi all, have been learning a lot from this thread so thankyou...
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