ukisashi

I'm not ready to make THOUSANDS yet, but each day, I am more prepared than the last... Correcting my deficits...

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thomasKlegend

 Received 4 Karmas
thomasKlegend
thomasKlegend Feb 04, 12:19 PM

My thoughts: look for the first red day. Keep on watch the stocks that have been going up a LOT with consecutive green days (pump chart). Then plan on dip buying or shorting the first red day.

ukisashi
1ukisashi Feb 04, 2:42 PM

Thanks for sharing guys. The real trick is WHEN to enter in the dip-buy without being shaken out of the "weird" consolidation patterns that sometimes happen. The key is to approximate the bottom and watch closely to look for an entry point.

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ParadoxTrader

ukisashi
1ukisashi Feb 04, 3:15 PM

@ParadoxTrader Have a super day tomorrow!! Let's DO THIS!! Let the trade work and when it doesn't, get out. I also realized that the mantra "cut your losses quickly" was never really provided a CONTEXT. Even with great books by William O'Neil. I would say that in the context of a calculated/expected upswing/uptrend/bounce, allow time for the trade to work. Watch closely to see that the chart really isn't going the wrong/down direction (for a long play, that is). Then I'd say DON'T cut the losses

ukisashi
ukisashi Feb 04, 3:16 PM

...too quickly. Give it time to reveal itself.

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