A bad trade is like a dead fish: The longer you keep it, the worse it stinks.
When a trade is making money, the market is telling them they are right and to let the position ride.
Don't ever do this ...
Winners don't add to, or "average", losing positions. They dump the trade and go looking for a new opportunity. Successful investors may add to the winning trades. When ahead, they press their advantage while remembering that at any time the market can turn on them and prove them wrong.
In trading keep your mind clear and do not get emotional about a trade. Remember you are not married to a stock rather you are in the dating game.
Learn more about common sense trading.
Co-founder of MarketClub
3 thoughts on “Something to remember in times like these.”
Hi...new member here...Brad. My question is, do Gold and stocks normally work in opposite directions? If we retrace a little here (back from the middle Fibonnacci) and then move above the middle line, could that mean that the Dow has not found a bottom yet...assuming a yes to my question?
I appreciate highly your good words (advice.
I and certainly the mayority of us would also hear your personly,technical precious experiences in trading.
One more word regarding trading: "See before you jump, think before you trade in"
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