BOTD's Top 10 STOCK TRADING TIPS for 2009

 START WITH A PLAN! 

~ position size

~ entry point

~ stop-loss

~ profit point(s)

~ trade stocks you follow

  STRICT STOP LOSSES! 

~ losers are inevitable 

~ keep losses small

~ don't 2nd guess or over think.

~ SELL it and move on. 

ANTICIPATE EVENT OUTCOMES!

~ know what's coming. 

~ Weekly Economic Data

~ FED meetings & earnings reports

~ consider market reactions

~ have a game plan for either 

~ play the earnings game

 STAY TECHNICALLY ALERT! 

~ watch recent highs and lows

~ follow moving averages

~ know specific retracement levels

~ Fibonacci / Diponacci ?

~ end of month, options expiration

~ holidays and market hours

~ Go with the FLOW.

HEDGE DURING UNCERTAINTY!

~ know your enemy(s)

~ have a "pair" in mind before

~ be quick in and out

~ not losing money is a win!

~ don't over hedge, downsize instead.  

WATCH OTHER MARKETS! 

~ major currencies: dollar, yen, etc 

~ commodities: gold,sugar,wheat,etc 

~ bond yields

~ overseas markets

~ Wife at the Super Market. 

 PROTECT PROFITS! 

~  lock in 5% - 10% moves

~ use trailing stops

~ don't be afraid to reduce size

~ NO "playing with the house's money"

~ it's yours! ... keep what you've made.

HAVE FUN! 

~ keep it simple

~ enjoy yourself

~ eat right/drink water

~ slow down 

~ remember to BREATHE! 

STAY FLEXIBLE! 

~ use emotion as "a tell" 

~ change directions frequently

~ pay commissions, not losers. 

~ keep sufficient margin available

~ cut losses, keep gains!

 USE YOUR RESOURCES! 

~ Research, Research, Research

~ make watchlists & back test ideas 

~ join communities: StockTwits.com

~ read trader blogs: MarketRoll.com

 "What you focus on, you find in 09"