Please keep in mind, all of my alerts are short-term unless otherwise stated.
If you aren’t already either actively following your trades or setting up stop losses to protect your investment then you are gambling.
It is paramount to establish a trading strategy that helps you limit your losses and maximize your gains depending on your personal experience, risk tolerance, and other factors that you may want to discuss with a certified professional (not us).
If you are not familiar with my trading guidelines, please read them below.
These trading guidelines are designed to give you a starting point to develop your own personal trading philosophy and approach.
Trading Rules [Please Review Before Taking Any Action]:
- Do not invest more than you are willing to lose. No one likes to consider the worst case, but it’s always a risk that exists. Rule of thumb – if you cannot sleep at night as a consequence of your investment, then you have over invested.
- Keep calm. Do not chase. Decide for yourself if you like the trade. If you are not comfortable with the perceived risks, stay out. Timelines are to be decided by you. Approach methodically, and seek technical confirmation for direction. Always trade with a strategy in mind.
- Never use market orders. Only use buy and sell limit orders. Protecting your investment is more important than missing gains. Use “trailing stop %” or “trailing stop limit” orders. Personally I prefer mental stops while actively managing trades rather than entering your stop into your brokerage account.
- Cut losses quickly when day/swing trading. It’s better to acknowledge being wrong than to have false hope. Sometimes you will be wrong in doing so, often times it will save you. It all depends on your entry.
- Actively manage all your investments & trade during market hours only. Trading during pre/post market hours carries greater volatility/risk.
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