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S&P 500
5,431.60
(
-0.04%
)
US TECH 100
19,168.00
(
0.52%
)
Dow Jones
38,589.16
(
-0.15%
)
Brent Oil
82.28
(
0.00%
)
Bitcoin
66,590.08
(
0.60%
)
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eaglesurvivor

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eaglesurvivor

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Wednesday, 05/24/2006 1:43:25 PM

Wednesday, May 24, 2006 1:43:25 PM

Post# of 44
The Fundamentals of Trading Stocks - #3
Never play with scared money. The stock market is like a giant poker game. It picks out the patsies quite quickly. As Warren Buffet was once remarked, "If you're in a poker game for more than 15 minutes and you do not know who the patsy is, then you're it." (I'm winging this one; look it for yourself.)

Playing with scared money violates principles laid out by Abraham Maslow's Hierarchy of Needs. Playing with scared money makes one subject to the twin monsters of greed and fear.

If you can't afford to lose it; don't put it in.

"When in doubt, empty the clip."

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