One of the worst things you can do is rush in. Now rushing in is different than a quick entry. I look over about `15 different stocks everyday, that way I am prepared for a entry.
If they start behaving the way I think then I quickly get in, but I don't usually get in something that I have not looked at in the last few days. For example a friend said to take a look at game stop for a short. I at first wanted to jump in, but decided not too as I had no plan on the trade. Now do I agree that it was probably a short, yes it looks like it could be a great trade, but jumping into a unknown you might as well go play roulette and take chances of fate.
I preferer to have a plan and work off of that, So these next few weeks will be interesting as I do not want to really be to much in, as earnings and a potential stimulus will be on the table. That could wreck charts, and I will probably just have 20 percent or less in trades. Rushing in for a stimulus play could be great, but also could be bad, as using options you need to be right on time and direction. Investing is different than what I am doing, I trading wherever I can get a 2 to 5 percent return.
