Hond Financial

There’s a heap you can find out about short term stock trading from Tiger Woods descending curl in reputation.

Tiger Woods is at the prime of his game. He’s making cash left and right.

Did you make cash on your previous couple of trades? Are you on top of the world?

Before you burst off and risk it all stock market day trading, take an instant to think about Tiger Wood’s state of affairs.

Lessons Regarding Stock Market Day Trading From Tiger Woods

Do not get stuck-up with victory and assume you are God and will do anything you want. See the value in your smart calls, but also see the value in your dangerous ones. As a renowned trader once said, “The sole reason I didn’t learn to create a lot of money within the stock market at an even faster rate is that I had winning trades.” In other words, most of your knowledge comes from when you make mistakes. Stay humble and do not let success go to your head.

Do not attempt and conceal your mistakes from you wife. Keep your partner in the loop on how you are doing in the stock market. It’s her cash to. Don’t hoodwink her about your string of losses and only tell her regarding your winners. She’ll see the bank balance in due course and understand you are lying. If she catches you lying to her, her fury is going to be a heap worse than if you simply 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 $one million greenbacks, it wasn’t enough to keep her quiet. It’s never going to be enough. Thinking that if only you had additional cash to throw into your trading account and that will somehow magically fix your trading issues could be a formula for failure. If you cannot make cash with 500 dollars, 1,000 isn’t going to help. If you can’t make cash with 1,000 dollars, 10,000 isn’t going to help. In the end, you have to have additional winners than losers. Irrespective of how much cash you throw into your trading account, it isn’t going to improve your winners to losers ratio.

Don’t be double minded. We all 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 can’t live in two worlds for long. You ought to never get a stock because of a certain profit thesis, then once that profit thesis is met, flip around and justify why you are still in your position. If your profit thesis has been met, shut down your position. You’ll be able to continually return and analyze where you went wrong with your original profit thesis once you close your position. I will always remember 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 fantasy land. The stock ultimately went down and he stopped out for a 15% loss on the trade. Had he stuck with his initial profit thesis and not been double minded, he would have ended up with a 5% gain. As an alternative he had to settle for a 15% loss.

I anticipate that you will love this critique on stock trading. For lots of enlightening resources and remarks on day trading checkout stock market day trading and for a impressive expose on how a trader makes 60,000 dollars a year trading in just one stock please visit short term stock trading

Comments are closed.