Netflix and Google helped contribute to some big gains in the technology space last week. The Nasdaq had one of it’s best weeks of the year, closing higher by 4%. It’s tempting then, to take some cash off the table since the index is beginning to look extended on a short-term basis.
Most commentators tell you to cut your losses short and let your winners run. This is the ‘golden rule’ of trading. If you do this, only this, and nothing else, apparently, you are bound to make money. (So long as your risk settings are also right).
Lost some money last week by not following the rules. It happens. The important thing is to carry on. Over the weekend I have been working on some new strategies and fine-tuning existing ones. I have some exciting ideas to share when the time is right.
Last Week’s Picks:
Good morning. Lost some cash yesterday trying to play the New Years Eve rally. I felt sure that stocks would finish the last half an hour strongly as traders unwound positions but it wasn’t to be. Onwards and upwards. It’s 2015 and a Happy New Year! Udemy are currently offering over 9,000 courses at just […]
On the whole, it’s better to avoid trying to pick market tops and bottoms. If you try and pick the tops and bottoms every single day you’re going to get frustrated very quickly and wind up losing a lot of money.
Last week’s picks*: VA: LXFR +0.69% MR: LYB +0.99% ST: EXPE +3.31% SS: BLKB +2.77% SS: IQNT -6.71%
The following day trading strategies are meant for beginners and experts alike but remember that day trading is full of risk and the majority of those who attempt to day trade end up losing money. One reason for this is that financial markets are dynamic and extremely efficient. Markets are dominated by machines which means they […]