Stock Prince's Insights
How to trade yo-yo(wild swings) market?
Stock Prince (è¡ç¥¨çåï¼
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Why am I here? Recently I have witnessed many novice traders rushing into the market to simply buy penny/speculative stocks at very high prices. Causing them to lose their hard earned money or worst their life savings. This breaks my heart and as a very experienced investment bank trader, I believe that it is my duty to teach the public the right way to day trade.
Recently many people around me asked me how to be profitable in a yo-yo market.
My answer is don’t trade this kind of market…..without theme, increasing political instability, short term spikes, many pumps and dumps, it is very hard even for a professional trader to stay profitable.
However if you still want to takemrisk, here are some tips to keep you safe.
1. Set a daily target, if you target Rm300 a day and you hit the target just stop and walk away.
2. Trade during the first 30 minutes of the market and no more. During this time most stocks are in trend so it is easier to trade comparing to the rest of the day.
3. Scalp the market, many stocks only go up and stay up for a short period of time, some even worst so don’t even look to hold long term, swing or contra.
4. Never ever average down in this market. For instance a stock like PNE PCB collapsed from a high of 85cts to a whooping low of 42cts in a matter of few days. I REPEAT, 50% wiped off a in a matter of few days!!!!
5. Finally cut your losses fast and don’t let your profits run too much. We always hear the saying of let your profits run and cut your losses short, in a yoyo market, don’t be greedy or else that little gain you have will turn into a loss.
With this 5 tips you are better equipped than most people out there to trade this type of market without risking too much.
Stock Prince
Disclaimer:
All information shared here are strictly for educational purpose only. There is no buy or sell recommendation for any counters mentioned in this channel. We hold no responsibility for your trades. You should make your informed decision by consulting your licensed remisier or investment advisor before making any investment decision.
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