What is the single, most effective piece of financial advice you've ever received?

[themickey]

You are right, at any moment there are as many buyers as sellers. So 50% sees a buy and half sees a sell.

So when a price rises or falls there are 50% buyers vs sellers?
Check market depth, it is not 50/50 at the same prices.

 

[ironchef]

So when a price rises or falls there are 50% buyers vs sellers?
Check market depth, it is not 50/50 at the same prices.

For every transaction, there are an equal number of shares changed hand from buyer to seller? No?

 

[newwurldmn]

Soros had conviction that if Trump was to be elected there would be a stockmarket crash. The stockmarket went to record highs since Trump got elected.

That completely discounts the fact that he is the second highest hedgefund earner (in dollar terms) in history (only behind bridge water which had like 10x the assets).

 

[themickey]

For every transaction, there are an equal number of shares changed hand from buyer to seller? No?

Tru dat.
At market tops weak hands buy, strong hands sell.

 

[vanzandt]

Don't drink and trade.

 

[johnnyrock]

Trade from the first floor! You never know when you might feel the need to jump out that window.

 

[OddTrader]

OddTrader said:
"You shouldn't believe everything you read on the Internet" - Abraham Lincoln.

LOL "Lincoln" <---- and all this time I thought it was Al Gore

Bias!

 

[learner2007]

1. Never take a laxative just before the market opens.

2. Never take Viagra just before the market opens.

Never take Viagra and a laxative together. You won't
know if you're coming or going.

 

[Clubber Lang]

Multiple streams of income.
Wasn't even a thought back in the late 90's and 00's when trading was a monthly printing press.
But now thanks to HFT and the complete evaporation of liquidity and volatility, traders who diversified into alternative income opportunities are still doing fine while so many others are burning through their cash just to pay bills.

 

[murray t turtle]

Trading is a business, not gambling. Manage risk today so you can stay in business for the good times tomorrow.

%%
Good- great one. I ran this one that follows past Don Bright Trading Co,[ Sponsor @ that time] even though i seldom day trade. In all labor there is profit-[King Solomon] .Don Bright liked that one