{Start|Begin} with a {good |great } Computer, a {fast|quick} {internet|online} connection, {and|plus} a comfortable desk and chair. You {don't|do not} {need|want} one of {those|these} expensive, multi-monitor {computer|pc} set-ups like {every |each }day {trader|dealer} had {in|from} the 1990's. But {don't|do not} skimp on {computer|pc} RAM {and|along with} a high-speed {internet|online} connection.
Losing traders do Not have a trading {plan|program}, and {trade|transaction} solely {based on|according to} their {emotions|feelings}.
Winning traders Always have a trading {plan|program}, and {stick|adhere} {to|with} it, {regardless|irrespective} of their {emotions|feelings}.
{Panic|Stress} is {the|your} enemy {Of all|Of} traders; {only|just} {by having|with} a clear {mind|head} and a trading {plan|program} can we prevail {when|if} {others|other people} are panicking.
Never {exit|leave} a trade {Because of|Due to} your {fears|anxieties}. There are {only |}4 good reasons to {exit|depart} a trade:
1. {Your {initial|first} stop loss is hit. |}
2. {Your trailing stop loss is hit. |}
3. Your {profit|gain} target is {hit|struck}.
4. {Your {time|period} stop loss is hit. |}
{Let's|Let us} examine each of These {in turn|subsequently}.
{Initial|First} Stop Losses
You should always {Know|Understand} where {you are|you're} getting out {before|until} you enter {into |}a {trade|transaction}.
{Pick|Decide on} a {place|Spot} on {The chart|The graph} {where the|at which} penny stocks to {watch|observe} {should|must} {clearly|definitely} never {go|proceed}, if {you are |you're }{correct|right} {about|concerning} the {trade|transaction}. {That is|That's} where you should {place|put} your stop. Then size your position {such |}that you {will not|won't} lose more than 1-2{%|percent} of your {account|accounts} if {that|this} stop is {hit|struck}.
When you {enter|input} a {Trade|Commerce}, write {down|off} your stop loss and profit {target|goal} on a {piece|bit} of {paper|newspaper}, and keep it next to your {computer|PC}. {Look at|Consider} the paper whenever {you are|you're} about to do something rash.
Use a wider {Initial|First} stop loss for volatile penny stocks {to|into} watchs, {and|along with} a {tighter initial |flatter first }stop loss for {less|significantly less} {volatile|explosive} penny stocks {to|into} watchs. {In other words|To put it differently}, your stop {should|ought to} be {closer|nearer} {for|to get} a penny stocks to watch {like|such as} Coke, and {further|farther} away {for|to get} {a |}penny stocks to watch like Tesla.
Never enter your Stop orders {directly|right} into the {market|marketplace}. The {market|marketplace} has a {way|method} of {sniffing|rounding} out stops and {running|conducting} them. {Pick|Decide on} a stop loss {level,|amount, then} write it down on a {piece|sheet} of paper {by|from} your {computer|personal computer}, {and |}then get out {immediately|instantly} ({using|with} a limit order) {if |in the event }the penny stocks to {watch|see} trades {at|in} your stop loss {level|amount}.
{
In trading, honoring
|} A stop loss is {like|similar to} knowing when to fold {in |}poker. {A {small|little} {loss|reduction} {lets you|allows you to} live to fight another day. |}
Never {let|allow} a losing Trade {get out of|escape} {hand|control}. Nip it in the bud {while|when} {it is|it's} still a {small|little} loss. A {large|massive} {loss|reduction} may put you {out of|from} {the|this} {game|sport} {for good|permanently}.
Trailing Stops
{After you|When You} buy a penny {Stocks|Stocks} to {watch|see}, {if|when} the penny stocks to {watch|see} moves {up|upward} {and|along with} your trade {becomes |becomes more }profitable, then move your stop loss to your entry {price|cost}. If the penny stocks to {watch|observe} continue to move higher, {slowly|gradually} move your stop {higher|greater}. {If you {follow |obey }these {rules|principles}, you {will|may} always cut your losers short, and let your winners run. |}
{
Parabolic SAR, 5-bar
|} {{Or|Or even} 10-bar exponential moving averages, and 20-bar moving averages all make {excellent|amazing} trailing stops. |} {Pick|Select} one and learn {to|how to} use it {before|until} you {move on|proceed} to {the next|another} one.
Time Stop Losses
A time stop {loss |reduction } {Is the|Is your} {decision|conclusion} (made {before|prior to} {placing|putting} a {trade|commerce }) when to exit the {trade|transaction} {if|when} the penny stocks to {watch|observe} does {nothing|nothing whatsoever}. {Money|Cash} {in|at} {a |}penny stocks to {watch|see} that {is not |isn't }{moving|shifting} is dead money. {If|When} a penny stocks to {watch|see} {is still|remains} {not |}moving 3-5 days after your {entry|entrance}, {you are|you're} better off {exiting|leaving} and {looking for|trying to find} a penny stocks to {watch|see} {that is|that's} {moving|shifting}.
Always honor your {Stop|Stop} losses. If you {don't|do not} learn to take {small|modest} {losses,|losses, then} you will {eventually|at some point} {take |have }a {massive|huge} {loss|reduction}.
Never risk more {Than {1%|1 percent} to 2% of your capital on a single trade. |}
{
{If|Should} you lose 20% of |} {Your account|Your accounts} on a {trade|transaction}, {you will|you'll} {need|have} to {make|earn} 25% to get back to {even|}. {If|In the event} you lose {50%|50 percent} of your {account|accounts} on a {trade,|transaction, then} {you will|you'll} {need|have} to {make|earn} {100%|100 percent} to get back to {even|}. {This|That} is {why|precisely why} {it is|it's} {so|really} important not to {let|allow} losses {get out of|escape} {hand|control}.
{As|Since} Warren Buffett is {{Fond|Fond} of saying, there are two {main|chief} {rules|principles}:
|}{
Rule #1: Never {lose |shed }|} money.
{
Rule #2: Never forget
|} {Rule #1. |}
{90%|90 percent} of your losses {Will come from 10% of your {trades|transactions}. |}
{90%|90 percent} of your {{Profits will also|Profits will even} come from 10% of your {trades|transactions}. |}
{Remember|Keep in Mind} that {Great|Fantastic} {traders|dealers} are {reactive|responsive}, not predictive. They {do not|don't} {try|attempt} {to|and} {predict|forecast} {where|in which} a penny stocks to {watch|see} is {going|moving}, but they always {know|understand} their {potential|prospective} {entry|entrance} {price|cost}, target {price|cost}, and stop loss price. {Great|Fantastic} {traders|dealers} {let|allow} the market tell them {what |exactly what }to do.
{Great|Good} trading is {Not about predicting tomorrow's weather, but {rather|instead} about being able to {notice |observe }{that |}it is raining today. |}
{Good|Fantastic} trading is {about probabilities, not prognostication. |} {If|In case} {you have|you've got} a {small|little} {edge|advantage}, and {keep |maintain }{placing|putting} bets, {you will|you'll} {win|triumph} in the long {run|term}.
{Don't|Do not} {focus|concentrate} on the {Money|Cash}; {focus|concentrate} on trading your {plan|strategy}.
Trading is {all |} About {good|great} risk management, controlling your {ego|self}, focus, and {dedication|commitment}. If you {don't|do not} love this {game|sport}, {you'll probably|you're likely going to} {lose|eliminate} money to {someone|somebody} who does.
Knowing when to Sit {on|in} your hands is {half|half of} the battle in {trading|gambling}. {Good|Fantastic} trading {should|needs to} {consist of |include }more {watching|viewing} than trading.
If there are {no |not any } {{Attractive|Attractive} trading set-ups, do nothing. |} Go for a {jog|run} instead.
But when {there is |there's } An {opportunity|chance} to be had, {make|be} {sure|certain} {that |}you channel all {of |}your {time and energy|energy and time} {towards|on} your trading.
If the {general |overall } Markets (as measured by the SPY and QQQ) and {an|also an} individual penny stocks to watch {are|will be} {both|equally} in uptrends, {it is|it's} a {good|fantastic} time to {increase|maximize} your position {size |dimensions }and trade more {aggressively|vigorously}.
The {most|very best} money is Made {near|close to} the end of a {trend|tendency} when a penny stocks to {watch|see} {goes|travels} parabolic {and |along with }the {public|people} and pundits {are|have been} in a state of disbelief. Enjoy {the ride up|up the ride}, but {don't|do not} expect it to {last|continue} forever. Honor your trailing stop, or {slowly|gradually} sell {out your position|your position out} into {the move up|up the move}. Exit your {entire|whole} {position|place} when {trader|dealer} {sentiment |opinion }{gets|becomes} {too|overly} giddy and the {major|significant} news outlets {start|begin} to {cover|pay for} {the |}penny stocks to {watch|see} too {extensively|broadly}.
Never hold a {Position|Place} that {gaps|strikes} sharply against you {immediately|instantly} {after|when} {you have|you've} entered the {trade|transaction}. That {type|sort} of {situation|scenario} never ends {well|nicely}.
{If|In case} a penny stocks To {watch|see} sells off on {good|great} {earnings|profits}, get out immediately.
You {do not need|Don't Need} to {Make|Earn} your {money|cash} back {in|at} {the|precisely the} {same|exact same} penny stocks to {watch|see} where you {lost|dropped} it.
If {you are|You're} holding {On to a losing position, ask yourself this:"{Would|Can} {I buy|I get} the penny stocks to {watch|see} {at |}today's {price|cost}?" |} {If|In case} the {answer|solution} is no, you {should|must} sell the penny stocks to {watch|see}.
If {you have|You've Got} a {Trade on {that|this} keeps you awake at night, {it is|it's} {either|possibly} the {wrong|incorrect} {trade|commerce}, or your position size is too {large|big}. |} Either scale {back |}the position {size|dimensions}, or {get out |escape }{entirely|completely}. {Life is too short to {lose|eliminate} sleep over a trade. |}
{
You can always get
|} Back {into|to} the penny stocks to {watch|see} after the {stress|strain} has dissipated and {you have|you've got} a fresh {perspective|view} on it.
{Remember|Bear in Mind} that the {Market|Marketplace} will {always|constantly} {move|go} in such a way as to cause the {maximum|most} pain to the {maximum|highest} {number|amount} of {traders|dealers}.
{If|In case} a penny stocks {To {watch|see} suddenly becomes {much|a whole lot} more volatile than {usual|normal}, {just|simply} get out, or at least sharply scale back your {position|status} in the penny stocks to {watch|see}. |}
{If you ever|Should You Ever} have To go {online|on the internet} to ask {other|different} {traders|dealers} whether you {should|need to} {hold on|continue} to {a|some} penny stocks to {watch|see}, you already know the {answer|solution}. You {need|have} to get out {completely|entirely} and immediately, {because|since} {you are|you're} so lost that {you are|you're} asking complete strangers {what|exactly what} to do.
Click link below for more info
https://tradestockalerts.com/penny-stocks-to-watch/
{Keep|Maintain} a trading journal. When you enter {a|into a} {trade|transaction}, write down your {rationale|justification} for the {trade|transaction} and {your stop loss.|}
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