Newbie Do's & Don'ts

[bbgold]

Trading, Investing, Gambling?
Are you really sure which you are doing? Do you find yourself averaging down on a trade that you are uncertain about? Do you hold a losing position hoping that it will come back? Do you buy something Hoping you are right? Are you betting on a losing hand? When you have a Winning trade do you cash it in or hold out for More? Who is controlling your decision making, Mr. Greed or Mr. Fear? Trading/Investing/ Gambling you need to look inside yourself and decide Why you are reacting the way you do. With the Markets you can be doing one or all three and not really recognize it. Psychology is a Big part of the Markets and you need to constantly look at yourself and your trades and decide 'Why am I doing this?". Are you Trading and looking for the Good trades that will make you money and you capture those gains? Are you Investing and looking for the Good investments that are Appreciating? Are you Gambling and looking for something that will be the long shot or the odds are against you? Are you holding only the Winning trades? A Big part of the Markets is recognizing How you are trading and if you are making the Right decisions. Always remember that you want to be on the Winning side of a trade and not Hold and Hope that it will work out. Reviewing your trades or investments and deciding whether to Hold or Fold might give you some insights into How you are treating your participation in the Markets. Don't be a Gambler!
Sincerely, Bob :^)