My number one trading rule …..

Discussion in 'Trading' started by Tarzan, Jul 8, 2021.

  1. Tarzan

    Tarzan

    Never buy after hours or pre market. Every once in a while you can get a better fill if you do that but 95% of the time you will get burned. Never do it.
    Example, Neddham initiated OSTK after hours yesterday with a conviction buy and a $150 target. The stock closed at 86 and after hours was trading at $89.50. In other words, shorts were covering and suckers were buying. What happened ? The futures got hit hard this morning and OSTK opened near $87. I bought a small position at 87.10 and sold just under 88. It did go to 90 but those that bought at $89 after hours more than likely panicked and sold the opening bid.
    The only reason I bought at the open was because I knew shorts were given a gift with the futures getting hit. Had the futures been up, OSTK would probably of opened near $89.
    Buying the open is something I also try to avoid.
     
    murray t turtle likes this.
  2. Buy a stock. When it goes up, sell.

    If it doesn't go up, don't buy it.
     
    DTB2, KCalhoun, Bobbybax and 2 others like this.
  3. A good rule of thumb. I follow it too. Someone buys stocks before the market opens, and after the opening there will be a gap. So you can get a margin call. Somehow, right after the market opened, I bought an ATVI share, because my technical analysis showed that I needed to buy. I lost $ 300 in a few seconds. The action did go in the right direction. But then.
     
    murray t turtle likes this.
  4. %%
    NEVER is a long time\ i see your points.
    Buying the open or selling open with a resting order can work well .Premarket tends to not have much good volume. POST market \hardly ever see anything interesting on spy or QQQQ; soemthing post market may be noteworthy in an old WSJ/LOL
    SDS......open was to hi to buy for me today; post market would be better or close to reg close area is better for swing most likely................................................................................
     
  5. tayte

    tayte

    #1 rule for me: only buy when it's low, and only sell when it's high.
     
  6. Overnight

    Overnight

    This phrase is so cliche', it should be banned from this site.
     
    SimpleMeLike and padutrader like this.
  7. tiddlywinks

    tiddlywinks

    #1 rule... adhere to your rules!!
     
  8. Handle123

    Handle123

    #1 Rule, know where to exit when wrong direction before knowing where to enter.
     
    SimpleMeLike and Relentless like this.
  9. deaddog

    deaddog

    If it goes down sell it!!!
     
  10. deaddog

    deaddog

    How's that working out for you?
     
    #10     Jul 8, 2021