Trader's Rehabilitation Center
Have you been losing money?
Getting married to your stocks?
Do you have the urge to panic sell?
Are you making emotionally based trades?
You may need to be checked into Trader's Rehab!
Because you are not alone...
Here at TRC, we specialize in therapeutic methods that can help traders make better decision's.
We provide you with a diagnosis, a support group, and a 12-step program to make yourself a better trader. We can help you make a speedy recovery from emotional trading habits.
Providing a circle of hope, because emotional trading can be cured...
You may have been referred to the Trader's Rehabilitation Center because you were flagged for making an emotional post. One of your fellow I-hubbers saw you posting, and possibly showing the symptoms of a bi-polar or emo-trader (emotional trader). This is a serious trading disorder and can not be taken lightly. This message board has been designed as a place to tell your stories, educate others, and seek help. Emotional trading can cost you money while trading penny stocks, here at TRC, we like to focus on preventing you from making emotional decisions. Follow this twelve step program from now on, and you can become a better trader, make more money, and never become emotional about stocks again.
Admitting and Identifying your problem
There are several reason traders become emotional, Identifying your personal problem can save you a-lot of money. If you know what your doing wrong, admit it.
Sticking to the facts
Do not allow opinions to influence decisions.
Creating a Set of Rules
Create a set of rules to use while trading penny stocks. Buy and sell on those rules alone. Do not allow for exceptions. Discipline is key to being a smart trader.
Having a Strategy to Buy
Select which style of trading works best for you and stick with it.
Preforming Due Diligence
It is essential to have confidence in the penny stock you are buying. Do your homework! Know the share structure, the players involved, and all information about the stock.
Having an Exit Plan
Setting a goal, being able to predict stock movement based on reasonable expectations, and then executing a trade when you reach your goal.
Capital preservation is one of the most important skills a trader can develop. Knowing when to set limits, minimize your risk, and take losses is essential to not becoming emotional while trading.
Knowing when to take money off the table in order to minimize risk.
Realizing that daily movements are sometimes a minor part of the overall longterm movements of a stock. Having patience may also be something as simple as selling on the ask instead of hitting a bid price. Sometimes you have to just "Walk away from the computer."
Learning to Focus
You must be focused when executing trades and monitoring stocks
Be prepared to possibly lose your entire investment.
Trading with a Purpose
We buy and sell stocks to make money. Do not marry stocks. Especially if you can't stand holding the bag.