Trading 101

[Drugdoctor]

Thanks for the invite RJ - my tips ...

Buy the close, sell the open - I've had many overnite successes with this strategy.

If a position goes against you, average down on the weakness, if it still goes down, jump out, admit you were wrong, fool!

Never, and I mean NEVER, buy the open when there has been great pre-market NEWS! Even if you have to have the stock, you almost always can better the opening price.

Never enter a position with RSI over 70! Some of the best runs ever happen with RSI over 70, but most RSI's over 70 are overbought and you can wait and get a dip for the next leg up!
Look at DPDW for an example of this warning.

Never take a position so large in volume of shares, that your exit will tank the price. Market makers see your order flow coming, and they will walk you WAY DOWN!

And, try to sell at the ask when the shares are still climbing.
You get the quickest and easiest fills, and.... this is the hardest thing in trading there is to do!

And... Here is a link to some very good trading advice...

Print it and hang it over your computer! Read it every norning before you start trading.... I'm not kidding!

http://www.hardrightedge.com/wheel/tcrules1.htm