Don’t buy pullbacks, buy above resistance

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When you go long, you want momentum in your favor, not against you.

The worse thing you can do is buy a pullback to support and try to sell at resistance.

This is small-minded thinking.

Wait for the instrument to clear resistance, then buy.

There is no upper boundary to the price and prices are relative.

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Hesitation will kill you – cut your losers viciously

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Ace Greenberg would sell any longs that were down coming into Friday’s close.

Some traders offset trades in 15 minutes if they don’t show a profit. 

Takeaway: good trades make you money right away.

If it doesn’t act accordingly. 

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