How to select buy point of stock
Some criteria to be consider for buy point.
a) what is the current position of the stock, refer to wave chart either is 1st wave or 3rd wave or abc wave. to know the position will be more safe and avoid to be in abc wave down trend.
b) buy plan. buy at what price and what is the target price, if there is history high, as long as trend higher high and higher low still consider uptrend.
c) Cut loss price, need to prepare mentally and action to cut loss when things go beyond the expectation, cut loss point can consider in 10% or break thru strong support/ long term trend.
d) Executed what you have plan to do, when do plan shall be rationale when executed shall overcome emotion and refer back to rational plan.
e) Case study of past trade to improve and accumulate lesson learn. increase more on forecast and prediction of direction.
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