The Fundamentals of Trading Stocks - #6
Have an entry price target AND and an exit point target, BEFORE you ever hit that button. To fail to have have this plan, first, is somewhat like jumping into a vehicle, without checking the fluids and not having a map and not knowing why one NEEDS to go to a particular destination. This is a candidate for being lost. It segues into losses.
There is great trading value in being able to understand charts. They are not a panacea, but they do a 95% effective job of keeping one off of a long and winding dirt road that ends with a grizzly looking character holding a scowl and a shotgun, at the same time.
"When in doubt, empty the clip."