Keep with you this due to market hrs…
Don’t apply logic to the stock market So often I see people make decisions in the market on what makes sense to them. It makes sense to buy stocks when the company insiders are buying. It makes sense to buy stocks that are making positive announcements. It makes sense to listen to what the President has to say about the company’s prospects. However, all that matters is what the market thinks of the company and whether the buyers are more motivated than the sellers. So often, the market does things that do not make any sense until we later learn of what motivated the market to do what it did. Remember, the market is forward looking, most times, what makes sense is judged on what has happened in the past. … … Never average down on a losing position Buying more of a bad thing is not much different than continually betting on a losing horse. Winners win for a reason, and until your stock starts to show that it is a winner, don’t add more to a bad situation. If you like a company whose stock is losing you money, sell it. You can always buy it back later [...]
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7 Keys to Making Money Consistently 1. Deal with your trading as a business If you think of your trading as a hobby, then you produce the results of the hobby and making money becomes secondary. For your trading to be successful, it is imperative to create a proven process to make it a success. 2. Have a written plan that matches who you are This is a very important step. We want to have a proven plan that succeeds. However, if it does not match who you are, you are setting yourself up for failure. It will work for a while, but because it goes against who you are, after awhile you find reasons not to follow it. 3. Have a money management system in place When you have a system in place, it enables you to manage your risk better thus allowing you to preserve and grow your capital on a more consistent basis. 4. Create your own daily routine when you get up, you follow certain routines. create one that serves you and sets you up to make money consistently. 5. Be patient If you are looking for excitement, find a hobby that can provide you the [...]
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