thts a good and interesting post. u got it right...ones gotta master most time periods in charting .... level 2 helps u decide where resistance points are, charts help u decide the same and if u are a newbie, exit 1/2 when u think the stock might retrace (but still has potential and ur gut feeling tells u tht)...ride the other half for specualtion like omni always says. u really cant lose much then imo. for eg: I was in BOCX when omni called the alert at .52 3-4 mins towards the close of the mkt...i just jumped in at that point...on monday, i thought my esignal level 2 was screwed up and i did have to pinch myself to realise that, yes the damn stock has already gone about 140% up into the opening bell....I sold 1/2 then. rode the rest to about 2.50 and then played the bounces a couple of times...yes this stock would have given me more if i stayed on from .52 entry to 3.90 high. but for every BOCX there are much more losers...which run 100% one day and are down about the same or more the next...its safer when u see the profits in your bank rather than intraday....PROFITS ARE PROFTIS ONLY WHEN THE STOCK IS SOLD. this needs to be driven into your trading attitude. cheers:)
susan: thats why i post my entry points so new people can study my trades. people should study my entry points right or wrong study the indicators as well, thats how they can get better at it.
remember i one the very few that has the kahunas to post my entry points. most people only want to load up first then come in after they are lock n loaded on a stock then start talking them up.
great post and I agree with you. Many new people want to come into trading with the "get rich quick" attitude. They will get killed...For example in Baseball a batting average is made up of singles, double, triples, and home runs. One who only hits home runs doesnt always tend to be the best overall hitter. You have to take those singles, doubles, and triples, and in the bunch you'll always hit a home run. This week in that recap list we had 3-4 home runs and one grand slam
I dont understand how people can put most of their money in one stock...I can understand if your starting out and your starting low like with a couple thousand. But if you account is even 10,000+ I don't see a reason why you would put most of it in oone stock UNLESS you know what you are doing. I might be 19 but I've had 5 years of experience and I still have a hard time putting a good portion of my account in one stock. For those that know me know how freaked out I get when I load up and then the stock is like sitting there not moving...I can't do it. I rather make consistent money, use the strategy I've been using, and sleep well at night and not have to worry about anything. I've been there before and have learned my valuable lesson. Back in 99-2000 I would put a good 5 figures in one POS penny stock and go to class not worrying about it...it worked out for a couple months but then it eventually ended and I lost my a$$. So I know what I'm talking about when it comes to a newbie starting out because I've been there before trying to "get rich quick" and it just didn't last forever and eventually even I took a major hit.
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