air-2-money's  Instablog

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trader,investor and annalist. i believe that markets are moved by feelings and emotions. If you understand the feelings and the emotions you can understand the trend. if you understand the trend you can turn money in to air. Life is just one giant university that never ends. Any one you meet is... More
  • 10 Laws Every Trader Has To Know:  0 comments
    May 20, 2013 5:36 PM

    1-If you have a doubt stay on the fence- not winning money is a much better alternative than losing money.

    2-You are not trading against other traders, trading machines or big firms, you are trading against yourself: your instincts, your greed and your fear.

    3- You will never fully understand what influence prices because the markets are constantly changing. It doesn't mean you need to stop trying.

    4-don't ever determine that the asset has dropped "enough"- it's not up to you to decide. One of the greatest magic in stocks is that they can drop every day by another 90%.

    5-everybody are "experts" when it comes to trading. Don't believe anyone that's telling you he never lost. Also, Be cautious with tips.

    6-always put a stop loss.

    7.-If the price is moving there is a reason. Nobody is "playing" with the stock, stocks are not toys.

    8- You are not marrying a stock or a position. You do not have to be loyal to it no matter what. If it doesn't work sell it.

    9-Never try to buy for the lowest price or sell at the highest. The risk will always be much bigger than
    the profit.

    10- Technical analysis works- maybe not all the time but it works.

    fo you have some laws of your own? share them!

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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