This blog is geared towards improving my trading knowledge and recording my trades. I am not licensed to give financial advice. Trade at your own risk. It is your fault for losing in this money game.
Tuesday, March 8, 2011
Mac had told me that he takes his profit quick if the market gets choppy. I have heard this before, but now i understand how i can do this. Actually, i already was doing it, but now i know what im really doing. I just recently decided to get out at any new resistance after an entry, if new resistance forms. Thats something i have ignored before, and then watched as the stock reversed. Newly formed resistance might be something i can ignore if the market is a powerhouse, but in a choppy movement like how the market is in right now, its definitely a good idea. Im trying to get out at newly formed resistance on all my current trades. Overall my trades have been consolidating while the market wiggles east.
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I hate choppy market, is really difficult to deal with it.
ReplyDeleteI'm always looking for daily R&S points, it is really important because market can test this points and reverse