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

[Visaria]

You must understand the real value of money.This one alone should be ok.

I don't understand....can u pls enlighten me?

 

[fordewind]

I don't understand....can u pls enlighten me?

Money isn`t everything, money is the only thing.It`s like air or water that are usually taken for granted.If you start to see and honour its real value then something happens.

 

[Visaria]

Tbh, this sounds like nonsense.

'Money isn't everything, it is the only thing?'

 

[fordewind]

 

[Visaria]

Nice.

 

[trader99]

"Trading is about managing risk, not about maximizing profit: your primary responsibility when you sit down at 9.00 this morning to start trading is to be able to sit down again at 9.00 tomorrow morning to start trading."

(And one more: "Buy the dips in an uptrend and sell the peaks in a downtrend" has also been pretty good to me, and is what several of my methods boil down to.)

In theory that's my method, but in practice I can't execute like so... I think I need to build systems to do..

 

[themickey]

In theory that's my method, but in practice I can't execute like so... I think I need to build systems to do..

No, don't need to build anything, JBTFD!

 

[erick_red]

Never run behind the market without knowing why everyone is heading there

 

[drcha]

Have a plan

 

[Overnight]

Have a plan

plans!