Ascending Triangles 1/25
By Johns Wu on Jan 24, 2006
This entry was posted on Tuesday, January 24th, 2006 at 4:27 pm and is filed under Watchlists.
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In the stock market it’s not impossible to watch a stock rise up more than 20% in less than 3 minutes on a good momentum day. And even when you can see traders that make $5000 on a single trade, it is also not unusual to watch beginner day traders lose their shirts because of a series of unwise decisions.
The problem is that if you don’t know what stocks to look for and how to properly approach them you could end up wasting cash instead of making your profits grow. You can’t just trade stocks like if you where gambling on a casino.
That’s why the most important aspect of stock trading is the knowledge FILTER you employ to make your buy and sell decisions.
There are many “fantastic” stock systems and trading strategies outhere, but you need to test them in order to discover which ones help you the most. That’s part of your homework as a stock trader. Test, test and test again.
Complicated stock trading strategies that rely on a “boat load” of technical analysis indicators can make you slow, and being slow when trading hot momentum stocks can be as dangerous as not knowing what to do in the first place.
The worst thing that can happen to a beginner stock trader is to get information overload. It’s better to go step by step, and test a practical stock trading strategy that can show you how to focus on concrete ways to make money while picking SOLID hot stock trading opportunities once at a time.
Fortunatly there are excellent sites that can show you how to pick and and approach explosive hot stocks that are poised for big gains on the same day. One of those sites is Chat Hot Stocks http://www.ChatHotStocks.com
In the end, stock trading is all about buying and selling according to your especific setups. Once you master and follow your proven day trading setups like a clock, you can expect to start making serious amounts of cash on a consistent basis.