Saturday, January 21, 2012
Investing or Trading Advice
Cramer is a whole lot better than you think
Last night I read a fortune cookie that said "Many receive advice, only the wise profit from it"
So simple, so brilliant.
I went back and looked at some of my prior posts to remind myself that I should practice what I preach. So here are some of the best ones.
1. Pick a sound strategy and stick with it, don't waver; emotion and over trading are your worst enemies.
2. Be disciplined and Patient, it's a fact that almost all self directed accounts lose money, 2 of the biggest reasons, a lack of patience and discipline.
3. Sometimes it is better to go golfing or shopping (hate shopping) whichever you prefer than to sit by your computer all day, especially when you are not in the best frame of mind.
4. Less is more in trading.
Trading/Investing is such a personal thing, the above 4 are most pertinent to my personality.
BTW, I been doing this for 25 years, one thing I am certain of, is that if you don't follow these 4 rules you will either lose your shirt or make a whole lot less money than you should.
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