Newbie Do's & Don'ts

[renshen1]

Beware the "Gurus". Beware sites and chat rooms that charge you to hang out with them in cyberspace. Following others trades is frequently a losing game, especially in day trading. Your entries and exits will lag. Your stops will get hit. And number one most important thing is you are trading with a different set of emotions than the guy you are trying to follow. Beware the cheerleaders and hype masters. He may have a higher pain tolerance than you. Right there you are at a disadvantage if you follow him. Also... how do you know that the guy you are following really knows what he is doing? So ask yourself those questions before following anybody.