Targeting Yanlord for a buy

I will buy if Yanlord goes up to 1.3 in 3 days time. Otherwise I skip. Yanlord has an obvious support at 1.24, broken to the downside. I am trading on the premise of a false break.

Plus points:

• General uptrend now at support going back to October last year. 
• Potential triangle breakout to the upside following a false break of resistance

To summarise:
Trigger to buy : 1.3
Stop Loss: 1.21
Target: 1.48
Risk 9cts per share

Suppose I have $20,000 in trading capital, my 1% risk is $200. I buy 1000 shares or 1 lot and if I lose the trade at 9cts ie. it goes down to 1.21, I lose $0.09 X 1000 = $90. Add in commissions of roughly $60 to buy and sell and you have a loss of $150.

If you do not understand, please do not trade. A little knowledge 'half cooked' is dangerous to your financial health. Becoming successful in trading is like taking an MBA course. Please do not think otherwise.You can always do your due diligence to educate yourselves with trading books of real value like those I listed.

If nothing else, just learn from me that limiting yourself to a 1% loss per trade will save you from inevitable sleepless nights and big losses further down the road.