Posted by: eminitrader April 17, 2007
Making Money with Eminitrader
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There is a large swing during the open and close because most of the volume is traderd in the 1st and last hour. Volume drives prices. There is no ideal time to buy or sell if you are not trading intraday. Daytrading dictates some but not a whole lot. It is the buying/selling of big funds that drive the prices not you and me. Focus on executing the strategy. Don't be too greedy and don't be too excited. Learn to control your risks. Bet small. Our goal is to make small consistent money in the long run not necessarily hit a jackpot, if we hit one we'll take it but that is not our goal. Do not daytrade, you'll lose more in commissions. 90% of the day-trades lose. We are staying with JDO unless it goes below our stop-loss price, then we'll sell it, take the loss and look for another opportunity. Our stop loss price is $1.40. If you bought a lot of shares and think that you will lose more than of 5% of your total money if it goes to $1.40, then sell some right now. Sell it so that you can sleep at night. Here are last 3 rules. 1. Preserve your capital. 2. Preserve your capital. 3. Remember Rule 1 & 2. I'm leaving tomorrow so this is the last post. Good Luck. Remember the market is always going to be here. Be patient, learn the game, BET SMALL, play great defence.
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