Some Trading Tips

in #trading2 years ago

I use support and resistance levels. On breaks of resistance I watch for the retest and will use a buy limit stop set it and wait for it to trigger. If the support level fails I will quickly exit the trade. These entries can very low risk as you are potentially buying where others are also waiting to enter giving a defined support level.
On big pullbacks I will start buying at a defined level with a buy stop. Start small and build into these positions as they will take time to work.
I scan charts daily so I will be watching certain levels on certain tickers. Set alerts and be ready to execute when the time is right. The best trades make you feel a little uneasy as you are buying when others have been fearful. If it feels too easy its probably not right.