Rookie Trader's Dilemma: Should I Chase Tesla Stock or Stick to My Plan?

I missed out on buying Tesla stock at $117 yesterday and now I'm wondering if I should chase it because it's currently at $120. I've looked at some technical indicators like RSI, OBV, and Bollinger Bands, and they're all saying that it's a good buy. But, as soon as I decide to buy in, I see that it has opened at $121 and is climbing fast. I quickly change my mind and decide not to chase it.

I also take a look at the S&P 500 index (SPY) and decide that it's not a good time to buy into that either.

As a rookie trader, I know that chasing stocks and buying in at the wrong time can be a costly mistake. It's important to have a plan and stick to it, and not let emotions drive my decisions. 


~ The Rookie Trader

Rookie Stock Trading Strategy - Jan 2023 











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