Good thread, interesting
"They tell you to buy high and sell higher.. This is Bu**S**
Always sell into strength and buy into weakness..( I fully understand the above reasoning but it is not suitable for day trading )
I think you are too harsh on this, this applies to trend trading and can work in many time frames , not just daily. Trying to pick tops and bottoms - some people say that is a mug's game, and the bit in the middle is the bit to go for to avoid getting chopped on market turnarounds. "The pioneers are the ones with the arrows in their backs..."
"2) They tell you to buy the strong stock on strong sector
Wohoo .. donot do it... they fall faster if maket goes down.."
If you are a short term trader, that's ok, if you are in for the bigger move that is how the big money is made - most of the Greats say that. ie vodaphone has continued to be relative strength leader over BT etc
"3) As soon as you made profit raise the stop to entry ..
Unless it is a technicaly significant, then it is waste of time doing that. The market doesn't care where your breakeven is, so the only way to tell where and when to raise it is with experience seeing what is a balance between defensive and leaving the upside open enough.