Look at the Level 2. Trade Smart and Trade Simple. There will be only one opportunity to correct a wrong trade. Make small gain and move on. Be prepared to exit a bad entry.
I own 90% biotech stocks and in general I'm a longterm investor. I buy often stocks when they are less than a dollar and often sell them when they are 2-4 baggers.
My motto for 2014:
"Remember to take profit once in a while "!!