Tiger Woods Downhill Plunge Does Not Need To Be Yours: Short Term Stock Trading
December 10th, 2009
There is a heap you can find out about stock market day trading from Tiger Woods downhill twist in popularity.
Tiger Woods is at the top of his sport. He’s creating cash left and right.
Did you make cash on your last couple of trades? Are you on top of the globe?
Before you burst and chance it all short term stock trading, take a minute to think about Tiger Wood’s situation.
Coaching Regarding Stock Market Day Trading From Tiger Woods
Don’t get snobby with success and think you’re God and can do whatever you want. See the price in your smart calls, however also see the price in your unhealthy ones. As a legendary trader once said, “The sole reason I did not learn to make a lot of money within the stock market at an even faster rate is that I had winning trades.” In different words, most of your education comes from when you make mistakes. Keep modest and do not let victory go to your head.
Don’t attempt and hide your mistakes from you wife. Keep your wife in the loop on how you’re doing within the stock market. It’s her cash to. Do not hoodwink her concerning your string of losses and only tell her about your winners. She’ll see the bank balance in due course and understand you are lying. If she catches you lying to her, her anger is going to be a heap worse than if you just came clean and told her concerning your loss in the first place.
Do not assume that throwing more money at the matter is going to make it go away. Even though Tiger paid Rachel Uchitel $one million greenbacks, it wasn’t enough to stay her quiet. It’s never going to be enough. Thinking that if only you had more money to toss into your trading account and that will somehow magically fix your trading issues could be a formula for failure. If you can’t make cash with five hundred dollars, 1,000 isn’t going to help. If you cannot create cash with 1,000 dollars, 10,000 is not going to help. In the end, you have got to possess additional winners than losers. Irrespective of how much cash you throw into your trading account, it’s not going to boost your winners to losers ratio.
Don’t be double minded. We tend to have secrets. However if you discover that you’re spending more time in secret land than in your reality land, you must either stop going to secret land, or change your reality. You can’t live in two worlds for long. You should never get a stock because of a certain profit thesis, then once that profit thesis is met, turn around and justify why you are still in your position. If your profit thesis has been met, close your position. You can invariably return and analyze where you went wrong with your original profit thesis when you close out your position. I will never forget 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 imagination 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 five percent gain. As an alternative he had to settle for a 15% loss.
I anticipate that you will enjoy this commentary on stock trading. For oodles of enlightening lessons and notes on day trading go to stock market day trading and for a fantastic article on how a trader makes 60,000 dollars a year trading just one stock go to short term stock trading
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