Ways To Lose All your Money
Top 10 Ways To Lose All The Money In Your Trading Account In 30 Days Or
Less – Guaranteed!Craig Fergusan
#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
#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!
there you have it – my top 10 tips for new traders.
This list was easy to
I followed them all when I first started
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Published: Niranjanam Sunday, 08 October 2006