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Basic Trading Advice

 

I have been investing in the stock market for over twenty (20) years. I would like to share some golden rules. Develop a tried and tested methodology. Manage your risk by not holding onto any mistakes too long and try to hold your winners a bit longer.  Take profits on a written plan. Do you own homework after reading recommendations from the “experts”. Don’t get too greedy or too fearful. Remember what Warren Buffet says. “Be greedy when others are fearful and fearful when others are greedy”. This can help you buy low and sell high. No system or method is foolproof. Take the best ideas and methods and proceed with caution. Markets run in cycles and it is important to review, adjust and rebalance every few months, even for long term investors. Never get too cocky. Success in investing is measured by discipline, patience and consistency.