After completing over 1,000 stock trades, representing over 4,000 individual buys and sells, here are three tips I wish I knew and fully appreciated on day one:
Think win/win. Psychology is a huge aspect of trading. If you have a big winner on your hands and aren’t sure whether you should hold the shares to try for higher prices or sell them to lock in a profit, consider selling half and holding the rest with a stop loss (at worst) back at your original buy price. That way, if the stock drops back to your buy price, you still win because you sold half and made a profit. Similarly, if the stock shoot higher in price, you also win because you still hold half your original position. Heads you win, tails you win too. 😏
Set strict rules to help you stay disciplined.
Always know the day and time (pre