One of the things too keep in mind is that a successful trader isn’t really a book trader. It takes a lot of “6th sense” business to get in a lot of successful trades and paper trading before going live is suppose to help a bit with that. Something that I’ve been looking at a lot more recently is buying/selling on pullbacks. My instinct use to be that a stock that drops below a long term resistance is doomed, but I’ve begun to notice that it’s not generally the case at least not right away. It moves down and shoots up, often times right back on the resistance.
-Therefore it’s always important to note that support and resistance lines are zones not lines.
