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10 Reasons to Take a Trade and 10 Reasons NOT to.

10 Reasons to Take a Trade and 10 Reasons Not To
Before making a trade you should have a good reason for entering the trade.  Before you enter a trade from now on make it a point to ask yourself why am I making this trade If after you gave yourself an honest answer and you are still convinced it is the right trade to make then you should take the trade.  Below I have listed some example answers to this question you should have from now on before you trade.  The first list is the good reasons followed by the bad reasons.  If after you ask yourself why am I making this trade and your answer is one of the good reasons listed below then you should take the trade.  However if your reason is one of the bad reasons listed then you should think twice about taking the trade. 

Some Good Reasons for Taking a Trade
The stock is strong and is in a strong group
The trend is up and it just pulled back to a support level
The 50 SMA just crossed above the 200 SMA
The ADX is above 30 signaling a very strong trend
The slow stochastic is rising above 20 from oversold levels
The RSI is just above 50 so there is room for more upside
The stock just broke through a resistance level
There is a Flag formation on decreased volume
All moving averages are lined up with the lowest one on top
MACD is above the signal line and above Zero

Some Bad Reasons for Taking a Trade
The market is open. 
I want to make at least $500 a day so I must trade
That Guru on BSNBC says buy it now
My broker recommended this stock
I am averaging down because it is even cheaper now
I have lost a ton of cash and I need a big winner to make it all back
I heard a rumor on the Yahoo message boards
The P/E on this stock is low what a bargain!!!
The stock was upgraded by an analyst today
This has to be the bottom.  It just cannot go lower than this.  

Let's face it; we have all been victims of taking trades for reasons listed in the second list.  I have done this myself in the past but I can proudly say that I have graduated from the second list on up to the first list.  If you take trades for reasons in the first list I can assure you that you will have much better success than if you were to take trades for the reasons in the second list.  Print these reasons out and look them over the next time you feel like making a trade.  By the way I could have answered yes to 7 of the 10 questions above before making the ESLR trade. That is how good the technical's were at the time.





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