Yeah I’ve learned that.they’re too volatile. I should have taken a smaller position and given it more room
A good trade usually takes off right off the bat. The ones that cost you a lot start off with a small loss and get bigger. Theupside of taking small losses is you never take a big loss. Rather than FOMO is suffer from FOLC (Fear Of Lossing Capital) If you start to experience a bunch of small losses, you should rethink your entry set-up.
That's your approach. I'm not a technical trader. I use long term technicals to help delimit things bigger picture because I know if those levels are breached ( highs or lows ) something has changed. What I do works. I have exceptional returns the last 20 months and a very heavy involvement with commodity stocks ( good and bad, the whole gambit ). If you can use tight stops and succeed in this area good for you.
I do. And we are probably trading/investing in the same area. You and the fundamentalists because ot whatever news and data you use and me because all the interest caused by fundamentalists is moving the price up.
I agree that entry point is very important. Mine are usually around all time highs, or at least 52 week highs. Energy stocks have been good; about the only thing that meets my criteria of making new highs. I tend to wait for the strenght. For the most part I don't park money in stocks. It's either working or in cash.