trading-tips (1)


Tips For New Traders: What's Yours?


These are simple but they changed my trading immensely.  What tip (or 2) would you give to a new investor or trader?

How many times has this happened to you?  You're "in" a stock certain you're certain it's a winner.  You place a $1.00 stop because after all you don't want to lose more than $100. 

The next thing you know you're stopped out, only to see it reverse and head higher without you.  Was it your execution?  Is the market a rigged game?  Are they out to get you.....or was it the $100 you were willing to risk?  Was it, in fact, large enough?

Here are a few basics I've learned since I began actively trading:

  1. I don't buy a the open.  I wait for the opening drive to dip down, possibly even test the prior days mid-to low area OR I have a standing order waiting at a major moving average or fibonacci area (I love fibonacci!).
  2. I had to erase the thought of risking $1.00 on a trade (unless it's a small stock).  Period.  Zip.  Hands down. Put it out of my head.  After all, i

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