Don’t trade without a plan. Be as prepared as possible. Don’t try to be right
Emotion is a much bigger influence in stock prices than any other factor
The market reacts more to sentiment than facts. Herd mentality rules
Sell into strength and buy into weakness
Market always rewards minority, not the crowd. The trick to figure out if the mass perception is wrong and WHEN it will be proved to be wrong.
Technical setups and money management are more important than fundamental catalysts when trading
Always ask: What beliefs are you acting upon? What is the basis for those beliefs? Why do you have those beliefs now? Would those beliefs be different if your recent gain/loss record had been reversed? Can you clearly enumerate what could happen that would cause you to change your mind?”
Extreme emotions cause extreme pain. I’ve learned how not to get overly bullish or bearish
Be mindful of higher trading volume on down days prior to a future catalyst as bad news can and often does leaks out
Take responsibility for your own trading
Cut your losses, let your winners run, and this is more easily said than done
If you can’t focus, you can’t trade. Be in the zone or stay sidelined
Buy below value and well below value if possible
Being flexible can be fruitful
Let the market come to me and don’t force trades
It is never “different” this time
Just more……….very soon ,Till then just read these and learn something new.
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