10 Trading Lesson’s to Learn from the Pros
Success may be replicated by doing what other successful people who have treaded a path before you have done to achieve it. Below we look at the keys to success from 10.
Trading Lesson 1: Insanity is Doing the Same Thing Repeatedly and Expecting Different Results
Ok, this is a saying from Albert Einstein but the truth is that this saying holds true for the markets. How many times do we see traders repeatedly using strategies that have failed to produce results consistently? If a strategy is not working, jettison it and try another.
Trading Lesson 2: Be Fearful When Others Are Greedy
The Black Monday crash of August 24, 2015 that wiped off $490 billion from the global financial markets, as well as the losses that preceded it the week before are grim reminders that the same scenarios which played out in 2008 are back here with us. The warning signs were all over when the Chinese market was on a 2-year bullish run with uninformed investors being allowed to open as many as 20 brokerage accounts. This was greed at play and those who followed Warren Buffett’s timely advice would have been out of the Chinese stock market long before the carnage started.
This content is restricted to site members. If you are an existing user, please log in. New users may register below for FREE.