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| Goldstrike Resources (TSX-V:GSR) June 5 2012 Bullish Price Crosses 21 & 50 Day Moving Averages (Photo credit: Yukon Gold Cornelius) |
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| AAT.V Nov 27 2012 Bullish MA Price Cross (Photo credit: TekInvestor) |
My 'must" advice is, use low leverage, preferably 1:10. Read, and read more, practice and practice more, and DO NOT be controlled by your greed: discipline is key.
Basic 1: Moving average cross-over.
Trend cannot keep on going. Shift has to occur. Change gears when a moving average on your indicators happen! Use a longer time frame - that is why I recommended a low leverage approach!
Basic 2: Use a trend confirmation indicator.
MACD is good for this. Basic 1 and basic 2 combined, can provide you with more confidence in you trade.
Basic 3: Profit taking Indicator
You should know when to close trade; and Bollinger bands is good for this. Or you can use fibonacci for scaling out from your long term trades.
Never trade money that you cannot afford to lose! Mistakes could happen frequently, so learn strategies and techniques on how to get out, at least at break even, when trapped on a bad trade.
