Friday, 25 October 2013

Quote for the day

“Fools try to prove that they are right. Wise men try to find when they are wrong.” - Dickson G. Watts

25-Oct-2013 CSE Trade Summary

Crossings - 25/10/2013 - Top 10 Contributors to Change ASPI

Following Stocks Reached New High / Low on 25/10/2013

The Ten Most Foolish Things a Trader Can Do

In no particular order of foolishness.

01. Try to predict the future movement of a stock, and stay in it no matter what.

02. Risk your entire account on one trade with no stop loss plan.

03. Have a winning trade but no exit strategy to get out, no trailing stop or exhaustion top signal.

04. Ask for and follow the advice of others instead of trading with your own trading plan, method, rules, and system.

05. Trade your emotions instead of signals: buy when you are greedy and sell when you are afraid.

06. Trade your opinions, not a quantified method.

07. Do not bother to do your homework on trading, just jump in and trade, you are smart, you will figure it out.

08. Short the best and most expensive stocks in the stock market and buy the cheapest junk stocks.

09. Put on trades you are 100% sure are winners so you do not even need a stop loss or risk management.

10. Buy more of a trade that you are losing money in and sell your winners quickly to lock in small profits.