Stock Chat Posts that Improve Trading and Discipline
The first loss is the best loss you can ever take. Once you come to the realization that your trade is no good its best to exit immediately. Its never a loser until you get out and not to worry it will come back, is often repeated by most traders. Once the phrase is stated, it is an affirmation that the trader realizes that the trade is no good, it is not coming back and it is time to exit.
You always want to be able to come back and play the next day. Never put yourself in the precarious position of losing more money than you can afford. The worst feeling in the world is wanting to trade and not being able to do so because the equity in your account is too low and your brokerage firm will not allow you to continue unless you submit more funds.
Don’t hope and Pray, if you do you will ultimately lose. When I was a new and undisciplined trader, I cant tell you how many times that I prayed to the Stock Gods. My prayers were a plea to help me out of a less-than-pleasant trade position, so say the least. I would pray for some sort of divine intervention that, by the way, never materialized. I soon realized that praying to the Stock Gods or any other futures god was a wasted exercise. Just get out!
Stock Chat Posts continued…..
Don’t be a speculator, be a trader. In all of the years that I have been a trader and dealing with traders, I have never met a successful speculator. It is impossible to speculate and consistently print large winners. Dont be a speculator. Be a trader. Short-term scalping of the markets is the answer. The probability of a winning day or week is greatly increased if you trade short term: small winners and even smaller losses.
Hit singles not home runs, walk don’t run, its a marathon not a sprint, slow and steady wins the race. Have you heard these in the past? These are some of y favorite stock chat posts in stock chat rooms. Just as I dont know of any successful speculators, I dont know of any trader who goes into a
trade expecting to hit a home run and then actually having it happen. You should never approach a trade with the idea that its going to be a
huge winner. Sometimes they turn out that way, but the times that I have a hit a home run on a position is most definitely luck, not skill.
My intent in trading is to produce a small winners consistently. Day in and out….. add that to my stock chat.