Never Chase Stocks

Never Chase a stock that has peaked.



Today, impulse and fomo took over me.

Queued to buy BLDP at US$23.90... the support level... Done!

Lost some money.

Let's be disciplined and stick to my checklist. 

Rookie Daily (Not Day) Trader premarket Checklist:

  • 8.30am NY time:
  • Watch TraderTV Live... get stock hints... get the feel... 3 hours.
  • Check MarketWatch Premarket Leaders... pick and analyze rising stocks.
  • Check Yahoo Finance Earnings Calendar... pick stocks that have not jumped.
  • Check Mergers and Acquisitions at MarketWatch, Reuters, and CNBC.

    • Strategy formed from real life lessons:
  • Trust Supertrend... Ignore the news analysis (remember the missed Tilray stock that went up 26% in a day)
  • Buy on Supertrend Buy signal (remember the missed opportunities in the buy watch list)
  • Sell on Supertrend Sell signal for losing stocks (remember the gradual -30% Nikola drop)
  • Sell losing stocks to keep cash rolling. It's better than missing opportunities without funds.
  • Just buy whatever hunches I have (Missed ZOM +26.89%)... Let go if it's wrong...do not hold...
  • Use Pivot Point (Fibonacci) to identify support and resistance. 

    • ~ The rookie trader

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