Tom,
Have you ever read the preamble to this thread?
Word for word? Memorize it, read Bill Matthews book. Until you develope your own style, for we all have our own tolerances to risk, check out Matthews list and KNOW that every thing can not be a winner, have mental stop losses. Stay with the winners and weed out stale positions. If I buy ten cheap stocks and two turn out well, I am ahead. If five are winners, then I made a bundle and am a happy camper. What I did when I started: If I made a double, I sold half and got my money back, the rest if the stock continued going, I would keep a trailing 25% stop on, this way you minimize your loss and potentially stay with a block-buster winner. Remember you are daling with two emotions FEAR and GREED and that is all::::Malcolm's preamble to this thread is excellant!!!! And above all else, do your own research. Another thing is to learn something about a bad loss, not only is it there to keep you humble, but is there to teach you.
I used to keep some of my classic blooper confirmations in my pocke to show people at parties who bug me for tips..they never asked me for tips again as I have had a few looloos.
An old Wall Street adage::How to make a small forturne in Wall Street::::answer::Start out with a large one!!! Good trading::nysebob2 |
