The availability of data has skyrocketed in the past few decades. People would have to go down to their local bookstore and buy books on trading, aiming to hone their skills.
With so much going on in the world today, improving as a trader can feel like a daunting task.
So I’ve picked out six of the tips I wish I would’ve received 27 years ago… when I jumped into the stock market. I hope these not only help you improve, but also understand the market better to be able to form your own trading decisions.
No. 1: Don’t Fade Strong Stocks.
You never want to go against the main trend. Using the 52-week and the six-month highs and lows are great long-term trade indicators. This one rule will make a big difference.
No. 2: Avoid Holding Stocks in Similar Sectors or Industries
The S&P 500 has 11 major sectors. Make sure to not pick more than one stock from each sector. Basically, you take on double the risk when you play related stocks.
Check out my video below to get the other four tips and how these can help you become a better trader.
Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to!
P.S. Chuck Hughes wanted to prove the effectiveness of the Triple Threat blueprint with real traders just like us…
So he set them loose with a $50,000 stimulated brokerage to see what type of returns could be possible…
And just look at how some of his best performed in just three months.