Good morning another Monday trading day awaits us!
Some of you may have read my last post about msyelf making a booboo not planning etc etc.
Alot has been learnt from that post. I am very interested in short selling!
Alot of people too have been saying "you need a plan you need a plan". I guess now i'm looking for a suitable plan! I'm aware the decision is completely up to me, you can't give advice rah rah rah, i'm just wondering what kind of thing suits for a short trade which allows for fluctuations.
Is a good plan ie. obviously finding a suitable stock (blue chip better?), set myself a stop loss (4-5%) and also set myself a sell point (5-10%).
Is this viable, or is it all dependant on the market movements at the time.
It confuses me how 50% of peopel say "watch the market movements, trends and volume" and then other people say "do not alter your plan and stick to it"
Thanks fellow asfers!