BOOKING PROFIT ON INTRADAY- PLAYING ON NERVES

When your profit objective has been met, do some selling.Making sales after an advance

to the area you planned to see is simply good trading discipline. Sell all of your stock if it is now facing overhead resistance, because you can always re-buy if and when the stock clears resistance and breaks out. There's just no reason to own a free commodity in an area where the sellers clearly have had an advantage.

During the same time, the bears (and underinvested bulls) have been fearful. With every uptick there comes a concern that the market may never look back. As a result, there has beensteady buying pressurewith underinvested bulls throwing cash at the market while the bears run to cover their shorts every time a pullback ends and things again turn green.

Does that mean that you can just step up and buy any lower prices on any stock you see which is heading south on the charts? No way. For one reason, we're most of the way through earnings season but we still have plenty of companies which have yet to report. That means potential land mines, which is one reason you can't just buy any weakness. Another reason is that some stocks have indeed topped out and their runs are over. They're going into hibernation and may not return to the light of day until next spring (or later!).

There's little controversy over the idea that trading is largely a head game. Throw in the spectrum of emotions which ranges from pure elation (home-run trade) to all-out fear (blown stop-loss), and there's a lot of ground to cover. Somewhere in between the extremes is the topic of superstitions, and traders have a LOT of them! Those with risky jobs are the most likely to have superstitions or rituals in an effort to maintain emotional stability, so traders certainly fit the mold! What about you?

I'm adjusting my trading right now to incorporate more dip-buying techniques, so if you'd like to learn more about how I'm trading this market right now, drop by and start your free trial today!

BOOKING PROFIT ON INTRADAY- PLAYING ON NERVES

By: shanu

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