In starting this post I wish all who post here to keep comments and questions to the bolded topics please. Keep it positive and have fun.
Some advise that I have been given in the past and wish to pass on to anyone starting out.
Don't Lose money: What I mean by this is don't risk money that you can afford to loose. If you need to pay a bill with it or you are borrowing it, then you shouldn't be trading with it! NO EXCEPTIONS
Always Establish a Stop: If you do this your losses will be shorter and you will be able to recover sooner from the loss.
Always have a reserve: Always pull formyour earnings a minium of 25% set it a side for a reserve. You never know when you will need it.
Let Success Run...until a Clear Reason to Sell: THis is how you gain on a past loss and build profits. Do not deviate from your Money/Risk management strategy just trade you system. Just let teh wins run the distance. But when you do get a signal to get out DO IT!
Pay Yourself: Treat it like a business pull out money to pay yourself place 50% in a separate account.
Trade with the Trend: Learn how to read that and you will always have a friend inteh market.
Manage Risk: Never over leverage your account. Never get greedy. Never trade wihtout a stop loss. Understand the General Trend of the market.
Use your Own Research and Don't Listen to Others: You never know who the snake oil salesmen are so do your homework!
Buy only on Breakouts: This will save you time.
Use a Pyramiding Strategy to add to those Winners: This compounds interest in your favor.
Some advise that I have been given in the past and wish to pass on to anyone starting out.
Don't Lose money: What I mean by this is don't risk money that you can afford to loose. If you need to pay a bill with it or you are borrowing it, then you shouldn't be trading with it! NO EXCEPTIONS
Always Establish a Stop: If you do this your losses will be shorter and you will be able to recover sooner from the loss.
Always have a reserve: Always pull formyour earnings a minium of 25% set it a side for a reserve. You never know when you will need it.
Let Success Run...until a Clear Reason to Sell: THis is how you gain on a past loss and build profits. Do not deviate from your Money/Risk management strategy just trade you system. Just let teh wins run the distance. But when you do get a signal to get out DO IT!
Pay Yourself: Treat it like a business pull out money to pay yourself place 50% in a separate account.
Trade with the Trend: Learn how to read that and you will always have a friend inteh market.
Manage Risk: Never over leverage your account. Never get greedy. Never trade wihtout a stop loss. Understand the General Trend of the market.
Use your Own Research and Don't Listen to Others: You never know who the snake oil salesmen are so do your homework!
Buy only on Breakouts: This will save you time.
Use a Pyramiding Strategy to add to those Winners: This compounds interest in your favor.
