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Strategies & Market Trends : Position Trading Forum

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To: Rock_nj who wrote (6745)	11/12/1998 1:46:00 PM
From: Jay Ray	Read Replies (1) of 7247

I think that it is time to lighten up. I've been working on the following list for a few days and thought some of you might enjoy it. Most of the investment guides out there list things you should do to make money. This list is a guide of things you can do to assure that you'll lose money. It's a work in progress so any contributions would be appreciated. Here it is.... "An Idiot's Guide to Investing in the Stock Market" or "How to Maximize Your Losses"… Allocate more money than you can afford to lose to your investments. Blindly follow the advice of all analysts. After all, they get paid for picking good stocks. Cost average down all of your losing positions by purchasing more shares as the price declines. Sell all winning positions quickly, regardless of the current price momentum of the stock. Do not sell your losing positions. After all, they may come back some day. When daytrading, sell all winning positions for ¼ or less gain. Hold losing positions until they become profitable. Use a full service broker, preferably one who cold calls you on the phone. Make sure you give him/her the power to trade your account on your behalf. Look for low priced, preferably penny, stocks. Then you can afford to buy more shares. Look for stocks of companies with little or no sales and millions of shares outstanding. Only buy stocks with OTCBB after the company's symbol. Act immediately on every tip you receive. Researching stocks is a waste of time - you might miss a big run-up. If a news item causes the value a stock you own to suddenly plummet, sell it immediately, regardless of the fundamentals of the company. Don't wait for the price to recover once panic selling ends. Be impatient. If a fundamentally good stock you choose does not move immediately sell it and buy another. Buy what everyone else is buying. Sell when they are selling. ...Unfortunately, I did not read all of these ideas in a book. Hope you enjoy it.

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