My Profile name should just be StopLoss, seriously, use it. Here's a secret, IT DOESN'T MATTER WHERE YOU BUY. You can buy bottoms and sell tops all your trading career and still blow your trading account. That being said, it is all risk management, and position sizing that makes you meet your goals.
The most important trading tool you can have is this formula
Position Size = Risk/Stop Loss
It's up to you to decide your risk, personally I risk 1%, but that's just my style.
If you are interested, I have a very simple Microsoft Excel spreedsheet to calculate position size.
Buy higher highs, sell lower lows. Why? If you have to ask, there's something wrong here.
The most important trading tool you can have is this formula
Position Size = Risk/Stop Loss
It's up to you to decide your risk, personally I risk 1%, but that's just my style.
If you are interested, I have a very simple Microsoft Excel spreedsheet to calculate position size.
Buy higher highs, sell lower lows. Why? If you have to ask, there's something wrong here.