ASX newbie

Another week is about to commence and I am as prepared as much as I can be.

My research is up to date.My next selection of shares have been chosen. Candlestick charts are up to date. Trend lines are put into place.  All homework done.

 All that remains is for the stockmarket to behave itself and do what I  want, and that is to go upwards or at least my shares.

Unfortunately, as I well know I have no influence over the market. So as usual it is going to be a waiting game.

The only events you have any control are the the timing of your entry (buy)  into the market and when you leave (sell) the market.

It is the timing which determines as to how much profit or loss you are going to make.

Some hints to help.

 1.Is each trade clearly based on sound financial analysis?

 2.Is each trade part of an overall money managment objective based on matching your position with risk?

 3.Does each trade have financial goals which determine when you are exiting  (selling) the trade?

 4.Does each trade only use capital allocated from previous trades? Or are you going to find new capital?

You could say the above come under ” money managment” It is vitally important to manage your money as well as you manage your share portfolio. Both are important.

I am now going to take it easy for the rest of day. For who knows what this “new week”will bring.

Happy profitable trading  to all this coming week.