A humorous take on "trading rules"

By BR -
*Top 10 Ways to Lose Your Money... (24) 14-Dec-07 22:53


#10 - Put all of your efforts into finding the perfect technical
indicator.
Once you find this magical indicator, it will be like turning on a
water
faucet. Go all in. The money will just flow into your account!

#9 - When your technical indicator says that the stock is oversold,
BUY IT
RIGHT THEN. Always do what your technical indicator says to do. It
takes
precedence over price action.

#8 - Make sure to visit a lot of stock trading forums and ask them for
hot
stock tips. Also, ask all your friends and family for stock tips. They
are
usually right, and acting on these tips can make you very rich.

#7 - Watch what other traders do and be sure to follow the crowd.
After all,
they have been trading a lot longer than you so naturally they are
smarter.

#6 - Pay very close attention to the fundamentals of a company. You
MUST
know the P/E ratio, book value, profit margins, etc. Once you find a
"good
company", consider going on margin to pay for shares in their stock.

#5 - Forget about developing a trading plan. If you see a good stock
just
buy it. Don't worry about when your going to sell. No need to get
caught up
in the details. Besides, you'll probably get rich the first year of
trading
anyway.

#4 - Buy expensive computers and trading software. While your at it,
buy a
couple more TV's so that you can watch CNBC on multiple screens! You
NEED
all of these gadgets in order to trade stocks successfully. Then watch
the
money roll in!

#3 - Always follow your emotions. They are there for a reason. If you
feel
nervous, sell the stock! If you are excited, buy more shares. This is
the
best way to trade stocks and fatten up your trading account.

#2 - Don't worry about using stop loss orders. When the time comes,
you will
be able to sell your shares and take a loss. Your emotions won't even
come
into play. Besides, stop loss orders are for sissies!

#1 - Absolutely, without a doubt, FORGET about managing your money.
Don't
worry about how much you can lose on a trade. Only think about how
much loot
your gonna make. Then start planning that trip to Fiji!

Well, there you have it - my top 10 tips for new traders.

This list was easy to write.

I followed them all when I first started trading.

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