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Home >> Stock Forums >> Stock Market Trading Tip

Stock Market Trading Tip

Heather said: "What's your favorite stock market trading tip? I'd have to say that setting a stop loss is one of mine. That way you never lose more than you bargain for. What's yours?"

Rbreb13 said: "[QUOTE=Heather]What's your favorite stock market trading tip? I'd have to say that setting a stop loss is one of mine. That way you never lose more than you bargain for. What's yours?[/QUOTE]That won't always work though. A severe gapdown at the open could blow clean through a stop loss. Mine is: Plan the trade, trade the plan!"

Darren said: "Mine is: last one out of the pool gets the turd! :talk028:"

crankitdb711 said: "[QUOTE=Darren]Mine is: last one out of the pool gets the turd! :talk028:[/QUOTE] Mine is: if you hang out in the pool with the turd long enough, eventually the turd dissipates and people return to the pool :D"

sax1 said: "A fabled trader wrote: "I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit." Can you guess who this was? If there is one thing you can learn to become a better trader, learn this."

AlfredSokol said: "Mine: sometimes the turd in the pool really is a yummy chocolate bar. And how good it tastes then! :laugh:"

Rickster said: "You gotta have an edge. Or, in other words, All I want is an unfair advantage. Sax's quote is from Reminiscences of a Stock Operator. Have read that book several times. Jesse Livermore, the book's main character, did very well as long as he operated with an edge (the bucket shops). When he didn't have an edge, he lost everything (repeatedly). Ultimately, he committed suicide (so they say)."

Paq13 said: "sax's quote sounds like warren B my fave is along the same lines: sell your losers and let your profits run. the other is to 'always take profits" I think most people tend to sell out of winners far too early and hold losers far too long. so who knows."

squarepusher said: "be prepared to lose !"

JAP said: "Short high, cover low. :whacky044:"

Paq13 said: "So "THAT" is what i have been doing wrong. I thought it was "Buy High and sell low" and "short low and cover high" no wonder i've been losing my butt..."

thezster said: "Learn to laugh when you say to yourself "woulda/coulda/shoulda".... then move on...."

Kloewer said: "Here's one taught to me this year by our friends at New Century Financial: Only speculate on good news [I]following [/I]bad news--never on bad news alone."

sax1 said: "Price Headly: [QUOTE]Never average down a losing position. This may be tempting to many traders, as the ego wants so badly to be proven right that it looks appealing to average down your cost. But in reality what you are usually doing is throwing more money at a bad idea.[/QUOTE]"

Corey said: "Always think 'Time in market' not 'market timing' -- you can always make up a single loss, but you can never make up for years of lost compounding!"

jxd1843 said: "Some stocks you should be patient, when you are buying, choose an acceptable profit. Tell yourself what you want out of it before you buy. If you do not believe in a trade, do not buy in. If you are winning and hit your acceptable profit, it just may be time to pull while you are ahead. It is far better to miss out on a "I coulda made more money" than land in a "if only I would have sold yesterday""

ratAphooey said: "Selling too early is a mistake people make as much as selling too late."