my biggest tip from my years of trading, page-44

rogues you quote :

Im not giving up mate this is a addiction more then a job lol, just put this post up for warning to those that dont use a stop, you can get away with it 1,2,3, 4 times but eventually it will get you & its not worth it when a simple rule could have been followed.

40 here ..
i've said very often that if one doesn't enjoy the mkts then stay away. we're more than very likely all here on hc with our few bob. few may have had the silver spoon to get started but if we look at rod adler that can be fatal anyway.

never be greedy. how does one learn this ? well come to it this way. see a good profit then take some out. sell more on the way up. never stay with too much growing in one stock. ok, so you may miss out on the big winner but the odds are stacked against you. one big winner for 200++++ others. believe me.

and the classic from rogues ... you can get away with it 1,2,3, 4 times but eventually it will get you

it's like playing chicken crossing the road. you will cross many times then a car comes along that you don't see coming. odds are stacked against you. totally against you. how to avoid it is to remember to protect your money. stay complacent. divesify. only put a simple percentage into any one investment. only keep a simple amount in any one stock incl averaging. never chase. if you aint sleeping SELL. there are always opportunities. i was told that by one of my mentors. never forgotton it.

far too many things to go on with but i think what i copied from rogues here is prob some of the best advice anyone can ever give.

but one last idea. if things are not going well, liquidate and take a rest. the mkt will not go away. it's incredible how a refreshed attitude from scratch can help improve things.

be good and be careful,

40.