I'm learning to never take a full position. Buy like half and if the market tanks you can average down if nothing changed for the company. always have some money to average down.
1
I've learn it's always good to take profit before it turns red on you. Too often I'm trying to get a little more gain just to end up in the red. some gain is better than no gain. especially if you're playing options.
3
Biggest mistakes in trading are greed and fear. you must have targets in mind and stick by them. Too often we watch something go up but we don't take profits because we don't have targets set. we think it's going to the moon. then the trade turns and we end up selling for a loss. The same goes when market hits down you don't have the conviction you sell but it's only temporary.
1
long term investments are a lot less stressful than day trading. you're actually looking at a companies future prospect instead of guessing which way the stock is going for any given day. by seeing what the future prospect of a company and seeing how a company is manage is a better way to achieve gains vs losses