nrs250

I have been fairly successful (i.e. >75 %) when I enter a trade early AM/mid-day versus within 1st 30 minutes of the day. I have found that stops of 1% of total portfolio have worked out well. It seems that that itself forces more discipline for entry points, knowing that an ill advised entry will get you stopped out prematurely. I have used the following assumptions: 1) It is impossible to try and time the point of exhaustion for selling pressure when the market is trending down that day. 2) Taking the middle out of a move to the upside is OK (its OK to sell out a bit early and enter a trade a bit later that the exhaustion bottom on a selling wave as long as you take a chunk out of the middle). The trouble here is I often misjudge the level of buying pressure and sell out way too early..making money is making money but I need advice here. 3) Every move up is eventually followed by a move down and an opportunity for entry. I think others have said "there is always another trade opportunity". The times when I have let emotion rule and try and chase an entry point has almost always ended in getting stopped out. 4) I will not hold into earnings or big news... it totally screws my risk management plans because of gap downs the next day 5) I seem to gravitate towards 5-10 stocks and watch them. I can't get to know more that that and still keep my eye on the ball. Any comments would be appreciated. I am new to this and would appreciate input on my assumptions and suggestions for improvement.