Some tips for the “rookie trader”
While we can offer advice from the perspective of a “market veteran,” sometimes it is easier for one rookie trader to hear things explained by another rookie trader. This was an article written by one of users: Angell. While we’re not sure we’d consider her a rookie trader anymore, we think this article is helpful, well-written, and easy to understand if you don’t have alot of experience trading.Continue reading
Must know technicalities for new traders
Since Stockhaven.com supports all levels of traders, it is important for you to know at what level you are trading. Typically, if you have a lot of capital, $25,000 or more, you have been trading stocks for some time and have experience and a higher level of expertise at stock chart reading, in other words, technical charting skills. If you are lucky enough to have big capital but are newer than 3 to 6 months at penny stock trading, it would be to your advantage to review the rules for all of the other levels of traders. Knowledge is power and can save you capital loss and agony.Continue reading
Basic Stocktrading 101 - Links to Investopedia
A good stock trader knows they will continue their education and continue to learn, their entire trading career. And it never hurts to revisit basic information. Repetition helps ingrain basic knowledge and provides a trader with a solid base.Continue reading
My Rules for Traders with $500 - $2500 Trading Capital
This is a great article that was written by one our very own here at stockhaven.com: angell. Most of our members have met angell in chat and she’s a very helpful person. She sent us the following write up and asked what we thought? For the most part we agree with everything she says, especially her emphasis on having a plan and being a prepared trader! Continue reading
Are penny stocks good investments?
This is a question that must be addressed and before we get into why we will spoil the surprise by revealing the answer first: ABSOLUTELY NOT! NEVER INVEST IN PENNY STOCKS. Said another way, investing in penny stocks is like trying to turn a hooker into a housewife, it just shouldn’t be done.
The importance of having a plan of your own when trading
One of the things we always talk about on our website is the importance of having a plan for all trading situation and sticking to it. Your plan should be something you are comfortable with and unique to your own style. Following someone, while it may be easier, is really not a recipe for long term success, and it doesn’t help you learn from your mistakes.
Don’t trade blind — why you need level 2 and real time charts
So you’ve opened up a new brokerage account, funded it, and you think you are ready to trade. Wrong! If you are not trading with level 2 and real time charts you are putting yourself at a severe disadvantage.
Making a Real Trade
I have been trading, or what I thought was trading for close to 3 months now and up until this point I thought I was really learning how to be a better trader. I was sadly mistaken, now I am not defining my ability to trade by my gains/losses but simply by my emotions and lack of discipline.
Is this stock consolidating? Or is the RUN over?
There it is, the run you missed. An easy three bagger if you had found the BIG news that morning before everyone else. Looks like the runs over…or is it?Continue reading
Don’t trade to make money, make money trading
This article was submitted to us by one of our users: crosshelix. We couldn’t agree more with the article and it speaks to a phrase we use alot at Stockhaven.com, “Don’t trade to make money, make money trading.”What? Why would I trade if I didn’t want to make money?Continue reading
Don’t be scared, be prepared
I’ve seen many posts, and wondered myself, why so many times I end up selling at my stop and only breaking even or losing money on so many of my trades. One of the biggest reasons, in my opinion, is that we are playing with our scared money. Although it is good practice to hold to your stop, whether mental stop or actual stop set, it is those who are confident, and those who are able to do daytrades and can get right back in if it does turn and make a run up, it is those traders who are not shaken so easily if they decide to hold thru and realize the gains.Continue reading
Don’t be scared, be prepared
One of our members submitted this poem to us and we thought it was very good. Enjoy!Continue reading
Breakout Trading is one of the most consistently profitable trading techniques you can use in the market. In our Live Stock Chat Room our members work together to scan and profit from breakout plays everyday during market hours. Whether you’re day trading, swing trading or holding longterm positions, breakout trading is an invaluable trading technique. Continue reading
So I’ve got profits, now what?
One of the most difficult aspects of becoming a successful trader is how to lock in profits when you have them. Too many times, inexperienced traders find themselves with profits, only to see them disappear because they didn’t have a plan for taking them when the chance was theirs. Continue reading
How much money should I put into a stock?
The obvious answer is never more than you can afford to lose, but the question is alot more complicated than that. A common problem newer traders have when beginning to trade is deciding how much money to put into a stock. Continue reading
Stuck in MILV or AMWI? Why it may be best to cut your losses now
Taking a loss is the single most difficult aspect of trading to conquer, but it is also the most important. Without developing this ability you will find yourself having setbacks after successful trades. The reason? Most people have the wrong definition of what it means to make a successful trade. Continue reading
How to sell a Momentum Stock – Don’t kill the Momo
Here at stockhaven.com this is required reading for all of our members. Since we work as a group to find stocks in our live chat room, there are often multiple members playing the same stock. If everyone knows how to sell and follows the rules of trading momentum, the better the chances that the momentum will continue and other members can take profits as well. Continue reading
Profiting off of the “sympathy play”
What is a sympathy play? A sympathy play is when one stock performs well, because another stock with a similar situation has already risen. The concept is all about psychology. If one stock performed well for a certain reason, then it is comprehensible to think a separate stock could perform well for similar reasons. Below we will list numerous examples. Continue reading