Ten (or more?!) things NOT to do

[idribble]

Can we put our heads together to help the newbies on this forum?

1) Do not fall in love with a stock. All sorts of feel-good reports and your own blind faith will keep you in a losing stock.

2) Do not buy (or hold) a stock in a downtrend ..... EVER.

3) Cut your losses early and do everything you can to preserve your capital.

4) Have a trading / investing plan that is proven.

I'll just stick with those for the moment and let the more knowledgeable add to the list to assist the newbies.

 

[positivecashflow]

5) Do NOT Listen to HOT TIPS! (except from this forum of course : )
6) Do NOT enter a trade without knowing your exits
7) Do NOT enter a trade unless you understand the full risk of the trade

 

[doctorj]

I've always used the "smelly homeless guy" technique for alleged hot tips.

No matter what's said, where I hear it, who says it, I put the same level of trust in it as I more than likely would if an unwashed chap of no fixed address was passing it on.

 

[Jett_Star]

"smelly homeless guy" technique

I'll have to remember that one!