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Thursday, February 16, 2012 6:08:10 AM
Here's some rules to abide by:
1. Eliminate greed completely. Greed can eliminate your initial investment.
2. Listen to yourself. Trading is 30% hard data, 20% speculation and 50% decision engineering. Basically, don't play with your emotions, play smart. Be sure to know what you're buying. Enable yourself to think clearly. Ask questions and find answers.
3. Set rules/goals for yourself. Plan on how much you're willing to lose and protect your profits as soon as possible. Anything over $100-$300 is good enough in my opinion. $500+ is definitely greater, but riskier to achieve.
4. Don't picture the future line of a chart. Period. As the saying goes, "bulls make money, bears make money, but pigs get slaughtered." You can't predict anything even if you think you're good at predicting future prices.
5. Know how market makers work. Don't fall into their traps. Their traps work when you're greedy, fearful, and emotional.
6. Study why the stock is moving in its current direction then apply your knowledge. If a chart is up-trending, don't assume a down trend isn't possible. Know what can cause the price to increase in order to profit from it. Buying/selling pressure is one factor.
7. Buy low, sell high.
On a side note, ATRN might go up tomorrow morning. If it down trends below .14 then that could be bad.
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