snappyfrog
721 posts
msg #155424
- Ignore snappyfrog |
1/24/2021 5:01:20 AM
1. On bullish setups, I only buy if the open is above the previous close, opposite for shorts.
2. Know where ALL support and resistance areas are located.
3. Sell near resistance, buy near support. If I get out near resistance and the stock continues to run, I can always re-enter if I so desire.
4. Never trade more than 1% of my account (5% when I started with a very small account).
5. Trust my scans - I have several as everything runs in cycles. When one quits giving hits another is picking up.
6. Rarely buy call or put options - I tried to swing trade these like stocks. The money to be made in options is by SELLING calls or puts.
7. Stop loss of 3% - get out quickly. Again, I can get back in the trade when the setup provides an entry.
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