Please keep the following thoughts in mind when browsing this site:
- When I post a chart, be aware of the support and resistance levels annotated with coloured lines. I will usually denote a major buy or sell level with a thicker, dotted blue line. Never buy or sell anything without my targets first being hit or even broken by several cents. The trigger prices I post are important and I select them for a reason.
- If a level I post is nearly hit but not quite, do not initiate the trade. Often when a level is almost hit, the next hit will not give as much support or resistance. Instead, hold off on the trade until the next level or until I provide additional instructions.
- Never enter a trade without first having a stop in mind. I have a very good accuracy rate but no one is perfect. When I post a series of trade ideas, at least a few will not work out. The idea is to keep these inevitable losses small. The stop-out methodology you use should depend entirely on your tolerance for risk.
- Once a level reacts, put a stop in at breakeven. Although I aim for trades with the maximum potential for an extended up or down move, there's no telling how much any level I provide will give. Hopefully I get multiple dollars, but it may be as low as 1 dollar or less. So don't let the profitable plays I give out turn into losses and use breakeven stops once the trade is decently positive.
- Never assume I'm holding a losing swing trade once it has confirmed against my level. For me, confirmation means two consecutive closings outside of my buy or sell range. Your preferred method will vary.
If you have any questions about anything I post, please leave a question in the comments box or to my twitter feed. I will always answer each question I receive.
