Lessons the market has taught me

[Rkji]

market bhavishya quote !!!

i hope you don' t keep cutting original capital while cutting losses

when profit speaks, speaks from experience & originality

keep it real mate & do speak up your own mind :thumb:

no cents left now, went away while cutting losses


regards,
rishi

& MY CENT >

The elements of good trading r: (1) cutting losses, (2) cutting losses & (3) cutting losses. If u can follow these 3 rules, u may have a chance !!!!!!!!!

 

[sudoku1]

market bhavishya quote !!!

i hope you don' t keep cutting original capital while cutting losses

when profit speaks, speaks from experience & originality

keep it real mate & do speak up your own mind :thumb:

no cents left now, went away while cutting losses


regards,
rishi

'True Knowledge is Real Wealth & Ignorance is Real Poverty'

yes mate,not my quote but it is prudent 2 remember someones quotes in real life or real trades as they r not copyright in their own sense apart from not breaking the forums rules.

else nobody could had rewritten warren buffets coats & quotes !

 

[Rkji]

.....:cheers:.....

'True Knowledge is Real Wealth & Ignorance is Real Poverty'

yes mate,not my quote but it is prudent 2 remember someones quotes in real life or real trades as they r not copyright in their own sense apart from not breaking the forums rules.

else nobody could had rewritten warren buffets coats & quotes !

 

[highonlife]

:cheers:
Cheers to everyone for the quotes and advice

 

[manojsai]

maybe this rule too.mostly not used by the 80%

1) use common sense
2) use the the poweful trading station which do billions of calculations per sec...YOUR BRAIN.
3) develop your insight more than disciple .......

4) keep it simple........
-----------------------------------------------------=
"Adapt or die!" Said the Coackroach to the Dinosaur.

Beware of false signals bearing gifts.

"I have seen the enemy...and it is me."

Follow the path of least resistance

 

[highonlife]

I was following the markets for over 4 months, and have started trading a few weeks ago. Already these are some of the lessons i have learnt and i thought i would share them with all the members. As i go forward, i will keep adding to the list:

A: Trading Nuances

1. Always enter a stop loss when placing an order
2. Sell orders at lower prices do not work the same as stop losses. The exchange will merely complete the order at the current price.
3. Even if you are aiming for a multi-day investment, it doesnt hurt to put a day trade "Take profit" . Remember, the difference between your multi-day brokerage and your day trade can be as high as 1%.
4. Always place limit orders

B: General Lessons

1. The market is always right
2. The market can stay insane longer than you can stay solvent
3. Be confident in your strategy, but be flexible about exitting
4. Trading on margins is a great way of making money. But they will eat up your account if the market moves against you.
5. Paper trade all you want, study all you want, research all you want. The market will be your real teacher, and it will take its tuition fee
6. If you are new to the markets, do not day trade.
7. Get a good night's sleep. Tomorrow is a new trading day.

Time to edit and increase the list . Thank you all for contributing.

General Lessons:-

1. Preservation of capital can be as important as making money.
2. No one ever went bankrupt taking profits.
3. Never let any single position be too large a fraction of your portfolio.
4. Take a break from trading once in a while. Go into cash, and take a week off without looking at the markets.