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.
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