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TOPIC: Buy at support only

Buy at support only 19 Oct 2012 08:42 #1

  • remo
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will this feature be regularly updated for popular shares, or just when requested??

When requested as otherwise will need a fleet of technical analysts .

remo
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Buy at support only 19 Oct 2012 08:27 #2

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hi elsgly
Its different but after a while you will get the hang of it. At first i did not like it ither but now i can see the logic behind it. There is order to the topics and if things get posted in the wrong place then the moderators can move the post to the relevant areas.( ill be looking for volunteers to be moderators soon)
You have good search facility and once you get the hang of it its a breeze.
With regards to support and resistances ,just post what your after in the support and resistance topic area.Create a topic individually for each share then that way the supports and resistances can be done individually. So people just have to ask
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Buy at support only 19 Oct 2012 08:09 #3

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i will be looking forward to your advice on support and resistance, i am interested in barc, xta, xcel and thor. will this feature be regularly updated for popular shares, or just when requested. well done with the site, i think the problem will be that it has so many areas that people can visit we will all get lost. perhaps you could designate a place for us all to meet as if we were on ill?
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Buy at support only 18 Oct 2012 21:52 #4

  • followNev
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totally agree.
Though all of my strategies seem to be momentum based and breakouts at heart. I'd dearly love to be able to buy all the time at support, with momentum and a breakout. However, these momentum breakouts are generally at previous resistance. Doh !.
The key to buying up there is a high probability of the trend continuing and more importantly money management.
Essentially cutting your losses , when the trade loses momentum and the reason for being in that trade is invalidated.
Some may wait for a pull back after a breakout (looking for confirmation) but that is essentially buy at support from previous resistance. Depends on how risk adverse you are and how much you expect to risk before getting to break even.
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Buy at support only 18 Oct 2012 21:21 #5

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This is where most people fail.
Some one that does not know about trading or new to this or a fundamentalist will just buy at any level without looking at a chart.
Us chartist know that there are important levels to watch out for.
So you like x company.
You have done your research and have desided to buy first thing in the morning.Without consulting a chart as you don't know any thing about it. What you failed to relies is the fact that this company is right at strong resistance level .The area where all the sellers hang out.
You buy at the resistance level....A week latter it's dropped 25 points and now your losing money. You say it's not a big deal as your holding for the long term.
What you fail to relies now is that 25 point drop stops at a known support level and now would have been the best time to place your trade. You would have had the company 25 points cheaper .
I know your thinking well what if it kept going up.
Well companies don't go up in a straight line they always go up down up down sideways. Or something similar .what goes up ,also comes down. If its in a good trend then it will grind higher but will also go down. It's on the way down that you place your buy orders.
This is what the smart people do.
If you only buy at support then you add to your chance of succeeding .
Obviously there's more to this like stop losses attached but thats adifferent topic.

Only buy at support or else your in the realm of gamblers
If you want to last in this market then you need to wise up
Dyor
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