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Re: turning stone post# 33761

Monday, 11/12/2018 10:11:14 PM

Monday, November 12, 2018 10:11:14 PM

Post# of 70338
Thank you, buddy. Great advise as well. Thank you for your background into the broker business.

To add to this... Analyze the behavior of the stock, have a risk/reward entry, exit, and stop in place -prior to entering the trade. If you're investing, you don't need to have the buy and hold mentality. You can also use the swing trading methodology to buy low; sell high. Use those monies and any profits to purchase more (if you're still bullish on the stock), during pullbacks. Or, you can recoup 50% - 100% of your initial investment off the profits and allow the house money to run freely, while putting the original investment back in your pocket for another trade. Just remember. This has to be part of your written trading plan with criteria. If you don't have one - my recommendation is create one. As well as a daily journey identifying the stock, your entry and exit price, how the market behaved and mostly importantly any lessons learned.

Always have a trading plan in place. Avoid the noise on the boards and focus on protecting capital and following your trading plan.

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