You Have 5 Must Know Tips for Traders or Investors: They are? Why?

[Gringotts Bank]

Here's mine.

Some people can trade without a system. This requires a very sensitive feel for the markets combined with a low fear of loss and missing out. This is a rare combination of traits, because the more sensitive you are, the more anxiety you feel (as a genral rule).

Systems are great for reducing fear due to overthinking and second guessing. They are great time savers too.

More than anything, outer perfromance reflects the inner attitude. Having a way to process fear is vital. Being able to feel your feelings is vital. The traders who tell you this is not necessary are those with the right attitude towards money, the world and self, usually picked up at a young age. In other words, they've never looked into it because they've never needed to. But for most people it's a factor.

 

[Value Collector]

So far as rules are concerned, one of mine that always applies is that if you want to be on board well then get on board and don't be that person running down the street as the bus disappears into the distance.

Or in more practical terms if you want it and can buy it for $1.00 then what you don't want to be doing is trying but failing to buy it at 99c and then ending up buying at $1.20 etc.

Same in the other direction. If it's time to get out then do so.

 

[Sir Burr]

Radge has a saying for this both for entry AND Exits

I have a huge disinclination of anything he says.

 

[tech/a]

You wouldn’t be alone with your opinions
Just as I am not alone with mine.

 

[tech/a]

True few are enlightened