High Rate of Return
Charting your support and resistance areas prior to trading will help you achieve a high rate of return. I have a unique way of charting my support and resistance areas on all time frames. I can nail down the exact penny at times, where I expect the stock will hit. Each morning I find 3-4 Stocks that I will trade while having my prior trades from the week up. In total I will watch about 6 Stocks, and I will eliminate what I am watching as time progress- to the point where it’s down to 3 trades. I focus on the one trade that will give me that high rate of return within the first 30 minutes of the market. No sitting all day, or waiting for the “set ups” because I already have a predetermined price where that stock will hit. I have a high expectancy rate for trades that play out to the exact science with my strategy. Those trades that fail, the loss is very minimal. I change my mind with in minutes if I think the trade will not play out right, with the thoughts that I can always re-enter the trade. Knowing when to cut losses is most important. My stops can be as tight as .02 or .10, Entry I find is important.
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