Replies to post #16 on lowtrade

[lowtrade]

Boom ADD on to last post!

The first RULE in trading stocks!!!! NEVER chase a running stock NEVER!!!! NEVER. Get my point? Never chase a running stock! If you must have the stock, place a buy order one, two or three clicks above the ask and buy it.

Limit orders are put in lines, 1st come 1st serve. In a fast running stock, your buy at ask, can be way down the list and many wanting to buy at ask, can be passed by. Hense; you keep raising your order and keep missing it. By the time it closes your 20% 30% 40% higher than when you wanted to buy!!! and missed half the run.

This the first thing you should do. Create a watchlist, of stocks that have been doing well!

You have to start making stock plays come to you, not you go to them. This is VERY important!!!!

There are hunderds of stocks out there. Missing a hundered, will not stop others from coming!!! Find stocks that have been doing well for at least 1 month. Grabbing a flat stock that just breaks out of the blue are do or die! So if you start with a good watchlist, you raise you chances of getting out alive.

Concider each night on your watchlist,as work well spent! It takes some work to succeed, screening for good stocks is needed, with ALL trading styles!

[BoomTime]

Lowtrade thanks for the input, duly noted!

My watchlist consists of stocks that are currently basing, I find that longer the base usually higer the explosion. The one book that I found very helpful to myself would be Stan Weinstein's "How to Profit in a Bull and Bear Market". Thanks for the links, I do visit those sites time and again.

I can answer all question here, I know they are others that will find your proverbs helpful! :->

Your Questions

The reason I play breakout stocks is cause I've done well with them in the past, buy high and sell higher, and I also have made money on them and because I think I can make more money on them. I've had bad experiences last year (which was my first year trading) in buying stocks within trading ranges that didn't move pass it. I am trading mostly with extra money, I would be sadden if I lost it all, but do understand that this is the nature of the game. I'm trading cause its a hobby of mine. I'm fairly young 25 years old, so the level of risk at least to me can be of a higher nature.

I don't chase stocks that have gone 20% - 40% higher, realize that they will be others always. Just slipped up in Friday's trading by buying AGNT, who looks like they are selling basically all their assets on June 6th. Important lesson of merging DD and TA.
http://www.argotech.com/

Thanks
BoomTime