As of last night it looked like nobody was going to fill their gas tanks again, and today, well, the sky is not falling.
Regardless of whether you are a stock trader or an investor, you need to control your emotions and look for good entry and exit points. Yes, we have plenty of problems out there, and, no, the market does not go straight up or down. The trading envelop helps you pick “ranges”, not exact tops and bottoms.
If you are in the right stocks and use good entry points, as an investor you can give your stocks a little room. What you don’t want to do is hold until the bottom of the envelop and then sell, or watch 5 or 6 during up days and then buy at the top of the trading range?
Patience and discipline are two of the best traits of a successful investor. Confidence comes over time as the over-bought and over-sold signals work for you. Sell the excitement and buy the fear, especially if you are buying quality companies.
*DISCLOSURE: No relevant positions
This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.
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