For traders, you need to have a plan before you buy a stock.
Most of the time, people will buy a stock as soon as it spikes and hope for gains later on. In theory this works great but it practice it will fail more often than it succeeds.
What you need is a plan. Before the trading day begins, you should set up a watchlist of potential stocks to buy, with those stocks, you need to write down exactly what needs to happen for you to buy it, and what happens for you to sell it.
For example, I often use these rules: 3 hours after trading starts, 5% gain from open, breaking weekly or longer resistance.
If all three criterias are met, then I will purchase the stock.
The point is, you need to have a plan to buy the stock and give into your emotions when you "feel" a stock can go higher.
1. go get a library card
2. read 1 hour every night on investing
is there someone here trade more than 10 years ?
" Rule number one...don't loose money
rule number two ...don't forget rule number one " -warren buffet
Hello
I want to learn trade and be a professional so I can be oneday rich
can u tell me the golden rule ? , I want someone who have been a trader in more than 10 years so at least he is a professional !
