01-09-2022, 09:12 AM
(01-09-2022, 08:53 AM)fenders53 Wrote: When it's working it's working. The few people I know who have had success trading for years have one thing in common. They cut their losses quick when a trade goes bad. You don't need to understand why the market seems irrational that day. No stubbornly riding a stock into the dirt waiting to get out ahead on picks like an actual investment. You don't have to defend a trade to the death.
Back when I was a Apple bullish options trader (2009-2012) I called it sell discipline and it was absolutely essential to making lots of money. I made enough to retire early and was smart enough to stop and transition to dividend growth investing then.