Stock Market Day Trading And The Mistakes Of Tiger Woods
There's a ton you can learn about short term stock trading from Tiger Woods downhill spiral in status.
Tiger Woods is at the prime of his game. He's creating money left and right.
Did you make cash on your previous couple of trades? Are you on top of the world?
Before you blast off and chance it all stock market day trading, take a minute to think about Tiger Wood's state of affairs.
Coaching Regarding Stock Market Day Trading From Tiger Woods
Do not get stuck-up with victory and suppose you are God and can do anything you want. See the worth in your smart calls, however conjointly see the worth in your bad ones. As a prominent trader once said, "The sole reason I didn't learn to make more cash within the stock market at an even faster rate is that I had winning trades." In alternative words, most of your knowledge comes from when you make mistakes. Stay modest and do not let accomplishment go to your head.
Do not try and conceal your mistakes from you other half. Keep your wife within the loop on how you're doing within the stock market. It's her money to. Do not deceive her regarding your string of losses and only tell her regarding your winners. She'll see the bank balance eventually and understand you are lying. If she catches you lying to her, her rage is going to be a heap worse than if you only came clean and told her about your loss in the first place.
Do not think that throwing more money at the problem is going to make it go away. Even though Tiger paid Rachel Uchitel $1 million dollars, it was not enough to stay her silence. It's never going to be enough. Thinking that if only you had a lot of cash to toss into your trading account and that will somehow magically settle your trading issues is a recipe for disaster. If you can't make money with 500 dollars, 1,000 isn't going to help. If you cannot build cash with 1,000 dollars, 10,000 is not going to help. In the end, you have got to have more winners than losers. Regardless of how much cash you throw into your trading account, it isn't going to boost your winners to losers ratio. Don't be double minded. We have a tendency to have secrets. But if you discover that you're spending more time in secret land than in your reality land, you should either stop going to secret land, or change your reality. You cannot live in 2 worlds for long. You must never get a stock because of a certain profit thesis, then once that profit thesis is met, flip around and justify why you're still in your position. If your profit thesis has been met, close your position. You can invariably go back and analyze where you went wrong with your original profit thesis when you shut down your position. I'll never forget a trader who had 5% as his profit thesis. When he was 6% up, he stayed in the stock and said, "This stock is going up another five percent!" Talk about castle in the sky land. The stock ultimately went down and he stopped out for a 15% loss on the trade. Had he stuck with his original profit thesis and not been double minded, he would have ended up with a 5% gain. Instead he had to settle for a 15% loss. - 23208
Tiger Woods is at the prime of his game. He's creating money left and right.
Did you make cash on your previous couple of trades? Are you on top of the world?
Before you blast off and chance it all stock market day trading, take a minute to think about Tiger Wood's state of affairs.
Coaching Regarding Stock Market Day Trading From Tiger Woods
Do not get stuck-up with victory and suppose you are God and can do anything you want. See the worth in your smart calls, however conjointly see the worth in your bad ones. As a prominent trader once said, "The sole reason I didn't learn to make more cash within the stock market at an even faster rate is that I had winning trades." In alternative words, most of your knowledge comes from when you make mistakes. Stay modest and do not let accomplishment go to your head.
Do not try and conceal your mistakes from you other half. Keep your wife within the loop on how you're doing within the stock market. It's her money to. Do not deceive her regarding your string of losses and only tell her regarding your winners. She'll see the bank balance eventually and understand you are lying. If she catches you lying to her, her rage is going to be a heap worse than if you only came clean and told her about your loss in the first place.
Do not think that throwing more money at the problem is going to make it go away. Even though Tiger paid Rachel Uchitel $1 million dollars, it was not enough to stay her silence. It's never going to be enough. Thinking that if only you had a lot of cash to toss into your trading account and that will somehow magically settle your trading issues is a recipe for disaster. If you can't make money with 500 dollars, 1,000 isn't going to help. If you cannot build cash with 1,000 dollars, 10,000 is not going to help. In the end, you have got to have more winners than losers. Regardless of how much cash you throw into your trading account, it isn't going to boost your winners to losers ratio. Don't be double minded. We have a tendency to have secrets. But if you discover that you're spending more time in secret land than in your reality land, you should either stop going to secret land, or change your reality. You cannot live in 2 worlds for long. You must never get a stock because of a certain profit thesis, then once that profit thesis is met, flip around and justify why you're still in your position. If your profit thesis has been met, close your position. You can invariably go back and analyze where you went wrong with your original profit thesis when you shut down your position. I'll never forget a trader who had 5% as his profit thesis. When he was 6% up, he stayed in the stock and said, "This stock is going up another five percent!" Talk about castle in the sky land. The stock ultimately went down and he stopped out for a 15% loss on the trade. Had he stuck with his original profit thesis and not been double minded, he would have ended up with a 5% gain. Instead he had to settle for a 15% loss. - 23208
About the Author:
I hope that you will be fond of this editorial on stock trading. For heaps of learning materials and analysis on day trading checkout stock market day trading and for a illustrious editorial on how a trader makes $65K a year trading just one stock checkout short term stock trading
posted by X - Men @ 9:17 AM
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