Hi all, here's a bit of a summary of what people have learnt the "hard" way.
*buying hyped/pumped stocks means buying at the top - "late to the party", when chasing runners you can suffer the reversal curse.
SO; develop a clear trading strategy, never chase runners, no need to rush, there are always opportunities in the mkt. You can dip into stocks, buy small amount, do a test trade, don't start with a lge holding.
*don't believe the stories of analysts, CEO's, forum spruikers.
SO; DYOR, then be confident with your decision, avoid noise, you don't need the confirmation of others less well researched; justify buys with FA/TA or stay out; learn to control and manage emotions, or at least be aware of them, need accountability. Once again you can scale into trades.
*overtrading doesn't always produce profits
SO;learn to go with the flow and let profits run but predetermine your stop loss. Ibza suggests finding other positive things to do, keep busy letting your trade "do its own thing".
*don't get cocky when you're sitting on massive profits
SO; know your weaknesses and manage it, Free doesn't trade for a few days after a big profit.
Sorry if I missed any and maybe a few more to come? Of course IK's "deep value unloved micros" and 3500's "top down, plus" are measured, methodical approaches to investing that we can all learn from.
