Let’s recap what I’ve written about since I began this site back in January of 2016.
As a beginner, I’ve asked you to avoid these common pitfalls. When you start out, your goal is to survive against folks like me!
I’ve told you that it’s important to understand what the broader markets are doing as they tend to influence individual stocks.
I’ve stated it’s wise to be fearful when others are greedy and greedy when others are fearful. Reminding you that bear markets provide you with some of the best opportunities. If you went long stocks when I wrote that article; you would be sitting on nice profits at the time of this article.
I briefly took you on a bear market journey, hoping that understanding them would make you comfortable when they inevitably show up.
I encouraged you to understand the importance of patience in trading the markets.
I understand that trading and investing can be tricky in the beginning, and so, I encouraged you to remain positive by inspiring you with quotes.
I turned it up a notch in February. Explaining to you that:
You should begin thinking in terms of points and size, as it will help you with draw downs and encourage you to seek only the best set-ups.
My Blood on the Streets article, reminded you to rise above whatever is going on in the markets and encouraged you to become the narrator of your own story and trading.
A simple article but I hope you understand that you will live or die by your planning or lack therefore. If you don’t have a method, a plan or a methodology; you shouldn’t ever place a trade! I gave you a glimpse into my rules and encouraged you to create your own.
I warned against over trading and encouraged you to find other things to occupy your time, trying to drive home the point that no man ever made money trading everyday.
I paid respects to my favorite book in this blog post and tried to have you see that, after 100 years or so; there’s really nothing new on wallstreet. Let that sink in.
I stressed the importance of reviewing your performance, so you can visually see what you’re doing wrong and right. This analysis is there to make you a stronger trader.
We got to March and
I encouraged you to read the trading experiences of successful traders and told you about my favorite style of trading. I encouraged you to not look at losses as a failure and my last blog, tried to pontificate what may separate successful traders from unsuccessful ones.
Forgive me if this comes off insulting; but many new traders will come to the markets thinking getting that stock tip or learning that strategy is the holy grail of trading but it is not!
YOU, yes, YOU determine whether or not you succeed in this market.
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Building a Powerhouse of Knowledgeable Traders right from Main Street. Trust the Process. In ShortMeTina we Trust.