Pet Stocks Via Supernsetips.com

It’s easy to fall in love with a stock when it cares for you right. We all need a bit TLC, don’t we? .

In my trading past, I would create a honorable trade and, once I was out, couldn’t hold back to get back into the same stock because it had treated me so well. After all, I must have actually figured that one out. Yes, it was a quality chart pattern. Yes, the stock was in an uptrend. Maybe I just have a real feel for that stock, I would tell myself. I still realise this regularly in other traders after they pull a few points out of a trade from my stock newsletter and immediately enquire when they should get back in. The answer is, maybe never! .

If the objective is to create money, which it is, then we have no room for pet stocks. Why show favoritism toward a stock which worked in the past but may not be the best place to put cash right now? If your trade produces a winning stock, congratulations! Keep an eye on that stock, it may set up again soon. Just don’t be captivated by every tick, itching to get back into it. Don’t decide after one good trade that you must have that stock figured out. Such an attitude is bound to cost you, and you may find that you become a stock holder for a little while if you jump back in too early.

Trade only the best technical setups. Set your trades on, and keep a stop-loss order in place. Let the trade develop, and when it’s time to take gain, be willing to move on to the next trade.

There’s no room for favorites in the trading game. If a stock continues setting up for good risk reward trades, then by all means carry on to trade it. The trading error occurs when your fond memories of a profitable trade in XYZ stock cause you to forget your trading rules and buy under imperfect conditions.

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