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What is required in trading:
1. Understanding support/resistance levels
2. Know the bigger picture using the larger time frame. Alot easier trending with the trend then against it.
3. Understanding what sectors and stocks are connected with each other. For example: if crude oil goes up, transport stocks get hit
4. Do not overtrade
5. Do not risk too much
6. Specialize in your stocks
7. Always use stops
8. Don't jump the gun!
9. Buying a stock because it was mentioned in a chat room
Avoid the costly mistakes!
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