Lessons About Losses
Ho hum. Another expiration day where if any index move is going to happen, it is going to happen in the last few minutes of trading. Many of the folks I know are either complaining about the day dragging or have simply checked out for the day. I have to say it is tough to argue with them. Talking to other traders helps. It doesn't matter if they are experienced or new traders. Often you can learn a new lesson by talking with new traders. Sometimes, it can remind you of lessons learned. I had that privilege last night.
As I chatted with a Real Money subscriber, the question about the most difficult aspect of trading came up. There are so many aspects that can make trading and investing difficult. And there are differences between swing trading, daytrading, stocks, options, currencies, commodities, etc., but I think what it boils down to for most people is taking losses. For instance, I have to stop waiting on this Intel (INTC) trade and simply take my loss and move on. Taking losses is the most difficult action for me and for most traders in general; however, for some, it will come with an asterisk and much of that can be traced back to an early trade....370 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.