When it comes to Wall Street, though, the game never ends. In fact, you’re always required to call your own endgame, which is unquestionably one of the most difficult aspects of investing. Many speculators fail to call their endgame, which leads to them holding on too long… and eventually losing.<\/p>\n
Never expect to “bottom tick” your entry or “top tick” your exit! Nobody in the modern history of the financial world has ever been able to consistently buy at the exact bottom or sell at the exact top!<\/p>\n
Expecting to do so is nothing more than an exercise in futility and frustration. Every chance that it gets, Wall Street will mess with your mind and make you second-guess yourself – oftentimes making you feel stupid.<\/p>\n
Prevent this from happening by using this simple trick: Call your endgame and sell half.<\/p>\n
If you ever find yourself asking whether to cash out or continue holding, always, always, always compromise by selling half of your position. That way, you lock in some profits but are still positioned to capitalize on future gains.<\/p>\n
Sure, you’re potentially making less than you might have by not selling, but you also have the security of knowing that you cashed in a portion of your position when that little voice of reason inside your head told you to exit.<\/p>\n
This is the best way to have your cake and eat it too – which, on Wall Street, doesn’t happen too often. After all, if you end up taking profits too soon, who cares? As a wise investor once said, “Nobody has ever gone broke taking profits.”<\/p>\n
Trading Mistake No. 5 – Not Having Access to Good Research<\/strong><\/p>\n
The last big mistake new investors make might be the most critical of them all…<\/p>\n
Investing without having good information or research.<\/p>\n
You certainly don’t want to go into any new venture totally blind.<\/p>\n
There is a ton of information for new traders out there, but it’s not all of the same quality.<\/p>\n
Anyone with a webcam and a brokerage account can provide trading advice.<\/p>\n
But if you want the best chance for success, find the very best advice.<\/p>\n
I’ve been actively trading the markets for decades.<\/p>\n
Back in 1999, I started trading in the Apple computer trading pit on the Chicago Board Options Exchange.<\/p>\n
And today, it’s my job to keep track of every stock, anticipate every event that influences market conditions… and distill it all down into the most potentially lucrative investment recommendations possible.<\/p>\n
Finding the precise moment to make your trade could be the one and only difference between a sizable profit and a frustrating loss.<\/p>\n
Avoid Those Top 5 Mistakes!<\/strong><\/p>\n
Now you know the biggest mistakes that newer traders make – and how you can work to avoid them.<\/p>\n
Whether it’s a poor trading environment or simply unreliable information, these five mistakes will put a damper on anyone’s foray into the world of retail investing.<\/p>\n
Take your time, prepare a comfortable and effective trading command zone, keep your losses small, always have an exit strategy, and make sure you are getting the very best information!<\/p>\n
Above all… we look forward to sharing our ideas and strategies with you as you begin this journey into the markets!<\/p>\n
Your best chance of success relies on keeping it simple.<\/p>\n
There is no need to overcomplicate the market. Focus on consistency rather than trying to get into every “promising” opportunity you see come across the screen.<\/p>\n
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