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Replies to #30226 on lowtrade

lowtrade

04/04/12 4:19 AM

#30233 RE: picheljitsu #30226

Your learning. Create your personal universe, you can't manage them all. And don't need to, to be successful. You only need to pick the best and keep your odds for success as high as possible. Play what you want! Don't see what you want? Don't play. What you miss costs you nothing. What you get wrong does.

If you trade 1 a week, only need 2 on strong watch, 4 on weekly watch minimum. 4 & 8 max. If your not so good at finding prospects, start with 8 & 16. Any more then that would cause head aches from the clutter. If you can't find 1 winning stock out of 8 choices. Stop trading until you learn how to find then. Study chart patterns again!

You can plan on pattern projections. They give entry and exit price points. Keep your acceptable loss at least 1/2 the gain wanted. Only adjust your plan to preserve capital gains. Exit at targets and re-enter on continuation. Leave your profits in the bank. Feed the piggy!

I trade 3 or 4 and keep 8 to 16 in my universe. Everything else in the market means squate to me. If it wasn't for this board, I'd be happy as a pig, just interested in a manageable 16 stocks for swing trading. It's not really hard work, if you focus and ignore the clutter. Cycle weekly watch, to strong watch, to in play, then scan an hour Sunday to refill weekly watch.

Keep it basic, simple and clean! Henry Ford, it down the line. Who cares about Chev, Chrysler, Toyota, Jag, Buick, Cadillac, Honda. Focus on your business. Create your personal universe, clutter causes mistakes!

This is not hard. All the chit I post about here basically only adds comfort in decisions, by understanding what you see and helps correct mistake quickly. But it all boils down to, "know what you will win or lose before you play". Don't leave it up to chance. Be happy with you get. Plan for what you need. Trade for what you want. It's all in the numbers. Add them up till goals are reached.