Best Posts in Thread: Any advice for a first time trader

  1. FireFoley

    FireFoley Senior Member
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    Good advice @Taco Gratis. As someone whose entire career was in trading financial instruments, don;t ever think about or what you hope to make on a trade. Trading and Investing are 2 different things In trading always define what you are willing to lose and stick to it. Always know what the downside is!. In reality as a trader you don't care about the upside b/c that is what you are trying to do and that is gravy. Concentrate on the risks. Most investors always want to know what they can make, almost none asks how much can I lose? Lastly, never turn a "losing trade" into a long term investment.
     
    • Detroitgator

      Detroitgator Well-Known Member
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      I swing/momentum trade, but ain't gonna talk about it
       
      • Taco Gratis

        Taco Gratis Well-Known Member

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        “Don't focus on making money; focus on protecting what you have.”
        “The most important rule of trading is to play great defense, not offense.”
        “At the end of the day, the most important thing is how good are you at risk control."

        ~ Paul Tudor Jones
         
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        • LeeForThree

          LeeForThree Let It Fly
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          I'm thinking about getting into trading stocks. I had pretty limited knowledge until the last month. I have been doing a lot of research and following of the markets to get some idea of what I'm getting into.

          Does anyone have any advice, it would be greatly appreciated
           

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