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My solution is having a plan going into the trade. I have accepted that the trade will possibly be a losing trade and that the amount I lose is according to plan. I judge my success not by whether I make or lose money, but whether or not I followed my plan. It could turn out to be a good trade...

Holding a portfolio of dividend growers for the income take a lot of stress out of ones life in that they don't have to make decisions. One or two wrong decisions as to market direction each year wipes out all the advantage of trading. Dividend growers almost always increase in value so that...

It is too bad there is no data but I guess that of the 5% who are successful the majority figured it out on their own. From what I gather here on ET there aren't too many that were mentored. I agree that a good percentage are not suited to trading but I believe that also applies to any...

What ever became of Tony? Last I heard he had quit trading

Actually I'm at that stage of life. Officially an "Old Fart". I retired early in 2000 with a buy and hold mentality and soon found that half my nest egg had disappeared. I didn't panic and sell at the bottom but I realized that I wasn't comfortable with a buy and hold strategy. I came up with a...

I'm an anti diversification guy. Put your eggs in one basket and watch that basket very carefully. Diversification does not control risk, have a method of getting out of a down market and protecting your capital controls risk. If your goal is to have a diversified portfolio with little to no...

If I was recommending a buy and hold position for Granny I'd say VUG. This ETF has outperformed both MCD and SPY

That's kind of contradictory, what data shows that most have some sort of mentoring?

Do you outperform your Long term holdings with your trading component? If you are doing that then why are you Buy and Holding, and if not why are you trading?

At what point do you need risk control?

Reading the Journal it seems that you know what you are doing wrong. The simple solution is to stop doing that. Buy yourself an electric brad nailer and every time you don't follow your plan drive a nail into your leg. Start with 1/2 inch brads and increase the size if you keep deviating from...

There has to be a way. I use a simple MA cross. Probably wouldn't have worked this spring but has done alright in the past. I'm still pretty heavy to cash. I missed the whole recovery, although when I look at what I sold I'm still ahead of the game. A lot of what I got out of hasn't recovered...

I was talking about the stuff outside your trading accounts. Index funds, growth funds etc. If they are buy and hold you have little risk control. My long term swing trades are short term trades that kept moving in my direction. No reason to get out. I day traded for a few years and found that...

How do you control market risk in your other investments?

Do you want to invest or trade pharma stocks?

You want a mentor; put your trading plan here on ET. You'll get a lot of feedback. Maybe some of it will be useful to you. What you have to understand is trading is all about learning about yourself. Someone can give you a system to follow but you have to buy into the system. If you don't...

If you are not going to control risk by managing your portfolio you'd be better off just buying an index ETF. (SPY or VOO) Possibly a high interest savings account or term deposit would let you sleep better as the Index moves with the market as it did in March. If you want higher returns then...

Why? Don't you want the responsibility of looking after your own money.

Then make a post like 10_baggers first post and see who replies.

I would take the word "hopefully" out of my vocabulary. You can only control what you do. I doubt very much you can be right all the time. It's how you handle your losses that will determine how successful you are. Don't get too fixated on being right; protecting your trading capital is more...