What the hell are you?
Be honest now, who at some time of other has not fancied dabbling on the stock market? playing masters of the universe? Yes of course you have. Now I have read in a number of places that there are several distinct types of investor and which one you are dictates how you will react to share trading.
There are day traders, analytical investors, long term investors, short term investors, bulletin board gurus, penny share investors, bottom picking investors, traders selling short, traders selling long and safe and steady investors, to name but a few. All motivated by something different, both rational and irrational. It also seems that your personality, as well as what motivates you, is the key to your success as a share trader. However, whatever type of investor/trader you are one thing is paramount – don’t guess, don’t trade on emotion and don’t trade on bulletin board advice – research, research, research.
Beware sharks feeding!
If your a virgin trader, as I have already learned from the ever increasing pile of books by my bed, that if you don’t spend lots of time on research, teaching yourself the basics and defining a clear set of guidelines to stick to then you will lose your money. It is worth repeating, YOU WILL LOSE YOUR MONEY. The markets are full of skilled market makers and professional traders, people who do know what they are doing and they like nothing better than to make money at your expense.
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