The more you can make trading "care free", so that you're not sweating over positions the better.
TBH, the same fellow investor who led me into the Macy's trade in 2017 is leading back in this time. We've corresponded for years and have somewhat of a mutual trust in each other's abilities. He's not always right; I'm not always right, but over time we have been able to observe one another's track record.
There's so much I don't know about trading, but I'm willing to learn. I put an ad on social media to find an accountant who could tutor me on how to read bank call reports - with no luck - so I've had to teach myself.
(Speaking of banks - today I added 200 shares of ALBY and 50 shares of UNTN.)
Sometimes when I'm trading, I'm not sure what to do. Today I called my wife into my office because she's up many thousands of dollars on a position I got her into in her retirement account. I think the stock is going to go higher but its a 30 bagger right now from entry . I've not consulted her on the stock before -- but did ask her what she wanted to do -- hold for more gains (as I so often do) or sell. She looked it over and told me to sell 2/3 of her position and that maybe she'll buy back in if it goes lower.
I used to be all cowboy when it came to trading -- but, all cowboy has seen millions of $$ in profits disappear due to stupidity, so now I'm learning to ask the opinions of others. I have one friend who almost always seems to be right in his counsel to BUY / SELL / OR HOLD even though he lost all his money trading (or all his trading $$). Sometimes I have him come over for lunch and consult with him. The other day I called him for advise about a trade.
I doubt most posters on iHub do that well. One guy on social media recently confessed he lost all the year's gains in ONE week. Other traders chimed in to comfort him. One said he has been trading for years and invested thousands of hours -- but believes he probably just a break even.
I lost heavily when I first went into the market, and when I second went into the market, but the third time -- let's just say there's been no looking back.
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