Steal Warren Buffet's Stock Market Lesson Plans?
Gil Andes <[email protected]> Tue, 26 Sep 2006 21:08:59 -0700 (PDT)
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Why should you want to steal someone else's stock market lesson plans?
First, let me tell you that a trading plan is only useful if you follow it. Following your plan will make you successful, yet many traders circumvent the stock market lesson plans that they have carefully created. They become emotional invested in a trade, to the point where they ignore all warning signs. Remember, when the market corrects itself, which it always does, no position is immune, no matter how strongly your ego may be tied to it.
Many investors have stock market lesson plans that watch as their portfolio values are cut in half or more, yet they will still hold their positions. They may fear being left out of a big gain, or be so deep in loss that they felt they couldn't possibly sell at that point. But even if you believe that all positions will recover from their losses, and the truth is that not all of them will, this is a terrible way to trade.
There are a number of things that can interfere with a stock's movement and force you to close your position sooner than you'd anticipated. Your stock market lesson plans should cover all of these possibilities, but here are some reasons that should always prompt you to close a position:
http://hyper-stocks.blogspot.com/2006/09/steal-warren-buffets-stock-market.html
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Why should you want to steal someone else's stock market lesson plans?<br><div class="MsoNormal"> <br> First, let me tell you that a trading plan is only useful if you follow it. Following your plan will make you successful, yet many traders circumvent the stock market lesson plans that they have carefully created. They become emotional invested in a trade, to the point where they ignore all warning signs. Remember, when the market corrects itself, which it always does, no position is immune, no matter how strongly your ego may be tied to it.<br> <br> Many investors have stock market lesson plans that watch as their portfolio values are cut in half or more, yet they will still hold their positions. They may fear being left out of a big gain, or be so deep in loss that they felt they couldn't possibly sell at that point. But even if you believe that all positions will recover from their l
osses, and the truth is that not all of them will, this is a terrible way to
trade.</div> <div class="MsoNormal"><o:p> </o:p></div> <div class="MsoNormal">There are a number of things that can interfere with a stock's movement and force you to close your position sooner than you'd anticipated. Your stock market lesson plans should cover all of these possibilities, but here are some reasons that should always prompt you to close a position:</div> <div class="MsoNormal"><o:p> </o:p></div> <div class="MsoNormal"><a href="http://hyper-stocks.blogspot.com/2006/09/steal-warren-buffets-stock-market.html">http://hyper-stocks.blogspot.com/2006/09/steal-warren-buffets-stock-market.html</a></div> <div class="MsoNormal"><o:p> </o:p></div> <p>
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