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become a millionaire (read all 2 entries…)
Rules for investing

1. DO NOT GET GREEDY!!! You’re going to miss the “big one” every day. Stick with the plan!
2. Don’t Panic. When a trade doesn’t go your way, that’s NORMAL. If the fundamentals are in place, it will return. JUST WAIT!
3. Be smart. Set a limit on how much you’re willing to lose on a trade. When the price hits that limit, get out, even if we’re “sure” it will bounce back. We can’t control what a stock does (and more often than not, it doesn’t “bounce back”), but we can control the wise decisions we make ahead of time and our subsequent actions.
4. Never chase a trade. There are super profitable trades that happen every day and you will only find out about them the moment most of the profit has already been taken.
5. You don’t HAVE to invest TODAY! Opportunities exist every day. The best buys are the ones that you don’t have to rationalize or sell to yourself.
6. Do your homework, daily. Never stop learning about your chosen stocks, it’s patterns, etc. Find new ways to look at your data. Approach it with a fresh set of eyes.
7. Never think about the money you “could have made if only you had… (fill in the blank).” This leads only to bad decisions, uniformed regret, and a perpetuation of the same situation.
8. Metrics drive behavior. Create metrics that allow you to become a better investor. Time based metrics rarely add value and often undermine the very goal they try to measure. Be patient.
9. Wait until a stock is ripe – Down trended AND bottomed out.
10. Never forget the basics – Before every trade, know your 3E’s: Entry, Exit & Escape.
11. Never buy in extended hour trading sessions!
12. More to come…



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