NEVER add to a losing position.
Please add your individual answer to this question on your own personal experience as a trader.
Please add your individual answer to this question on your own personal experience as a trader.
The most expensive lesson you have learned in this business...
- Thread starter earlybirdstango
- Start date
Self deception will kill you.
It has been a long time ago, but I remember the day I quit my job to start work in the markets. I thought the transition would be relatively easy. It was difficult and costly. It took several years of hard work, study and struggle. I was lucky to find my way finally. I was sure that I was on top of it. I was wrong.
Steve
It has been a long time ago, but I remember the day I quit my job to start work in the markets. I thought the transition would be relatively easy. It was difficult and costly. It took several years of hard work, study and struggle. I was lucky to find my way finally. I was sure that I was on top of it. I was wrong.
Steve
Thinking that trading at a firm where they put up the capital was a better route than putting up my own.
I like this comment about self deception because it is central to so much in life and business. Its a word I use to assess the actions of others.
Where people claim, as they often do, that they have been deceived or they have been improperly informed or that someone else is blameworthy, its simple. They passed up responsibility. They did not use the onboard computer snugly placed between their own 2 lugholes.
The greatest and ubiquitous deception .. and its all around us and often in ET posts .. is self deception.
man 1994 a stock called media vision. a tip from a friend. they competed against creative tech who sold the soundblaster. i bought 7 k shares averaging down for weeks. one day after a bad close they said they'd have a press release in the morning. the company ahd been defending the stock for weeks sayin g everything was great. that am they preannounced awful #'s it plunged 50% to $11and i sold it all on the open losing over 100k. 3 months later they went chapter 11 after admitting huge fraud. it taught me never ever to trust any company. fromt hen on if the price action is bad i'm gone. THE STOCK ACTION ALWAYS SPEAKS THE TRUTH