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That comes with experience. But if you want to cut down the time it takes you to build that trust, start with some help…
Get a mentor that has the experience you can learn from. When they give you a trade idea with triggers, goals, and stops, follow the plan and see what happens.
Not every trade or pattern works 100% of the time, so review it afterward and see why it worked or didn't.
Another way to speed up your learning curve and gain experience is to have tech help you out...
Most algorithmic trading executes trades based on programmed criteria. Then the computer buys and sells when a stock hits certain prices. That's a bit of a stretch for new traders to get into. So here's the next best thing…
StocksToTrade's Oracle gives you the 20 hottest tickers with the most explosive potential that day. It won't execute trades for you, but it will give you the key levels to trade off.
It's something I wish I had when I first started trading. And even with my years of experience, I still use it every day.
Sure, I can find trades on my own, but why not save time and get confirmation that the levels I'm watching are important? That's something every trader can use.
Here's how Oracle could've helped you yesterday…
Entries and Exits in Yesterday's 100%+ Gainer
Agile Therapeutics, Inc. (NASDAQ: AGRX) gapped up in premarket yesterday after a big gap up and fail on Monday. That meant that all the short-sellers who shorted on Monday were underwater.
If you were looking for the best potential entry, shortly after the open, Oracle provided $1.97 as the key level to watch. I prefer whole or half-dollar levels so I was looking at $2.
And after AGRX dipped, it ripped through $2. As you can see from the chart below, you can also use Oracle support and resistance levels to guide you on the way up…
Once AGRX broke through Oracle's $2.17 resistance level, it continued to the $2.67 target.
Want to learn a short-selling strategy? Oracle can help you spot entries and exits for shorting too…
Yesterday, Oracle showed a trigger (entry) price of $11.04 and a goal (exit) price of $10.47 for Kezar Life Sciences, Inc. (NASDAQ: KZR).
And even though KZR went lower, that's still a 50-cent-per-share move. Not bad when you're learning a new strategy…
And as you gain more experience, you can decide when you want to be aggressive and hold stocks longer. Or scale out to get the most out of your winning trades.
There's a lot to learn when you're starting out your trading career. And it never stops — you'll constantly be adapting to the market and price action...
Why not take some of the work out of it and have tech help you as you go?
StocksToTrade comes with two built-in algorithms … Oracle and our ABCD screener and indicator. And both can help you determine the best potential entries and exits for your trades.
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*Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.
This is for informational purposes only as StocksToTrade is not registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund.
StocksToTrade cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing.
StocksToTrade in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, StocksToTrade accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.
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