“Losses are necessary, as long as they are associated with a technique to help you learn from them” David Sikhosana
For those who think a watchlist is not worth it, I beg to disagree. I only recently started doing them (Andy was right again) and in these short few weeks they have made an extraordinary difference. This past week was a tough week but look at the results the watchlist offered. Every one of these trade ideas was posted the night before. There is no excuse for not taking the time to do one.
“Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” Michael Marcus
“The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.” Victor Sperandeo
“Markets can remain irrational longer than you can remain solvent.” John Maynard Keynes
Never blindly follow anyone into a trade. Ensure you have a process that works for you, and follow your individual rules.