Right Thinking:
Trading the financial markets is not tantamount to shopping at your local supermarket.
Buying toilet paper for half off is a great bargain. You buy more.
Most traders (90%) have this mentality. When a stock is on 'sale', people tend to ignore that something negative is going on. This is not the time to add to their position. With a stop ALWAYS in place, their position should be closed once it breaks below their stop.
90% of traders do not succeed in this game. Traders see what they want to see, not what is actually in front of them.
The most common error from traders is that they 'bottom fish.' They think they're getting a 'deal' (on sale). They get lucky, and the stock moves up. Now the delusion sets in, and they think that they're a great trader, and they 'got this.' This is also known as trying to catch a falling knife. Patience and confirmation will keep traders in the game.
EBAY for example -EBAY had fallen 8 straight days.
Entry trade was taken Friday, March 17, after confirmation of eBay bottoming. Finding a stock's bottom is always hindsight. Entry was above $42.31.
EBAY is currently at $43.04.
To stay in this game, you must develop RIGHT THINKING
To Your Success ~
Suzan
Trading Risk Disclaimer
All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is not an offer to buy or sell stocks, cryptos, forex, futures, options, commodity interests or any other trading securities.
➤ This is a recent trade of mine that I've shared in the Trading Room.
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