Size matters!

pound coins

Proper risk management is still a bit of a mystery to me. I have come across bits and pieces of advice talking about stop losses, probabilities, position sizing etc. So far, I have only really practised honouring my stops instead of letting losers run away with my money.

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Not seeing the price for the indicators

technical indicators

When reading Reminiscences of a Stock Operator, I gained the impression that Livingstone didn’t use any technical indicators, just pure ticker action, experience and knowledge of the impact of certain events on the stock market. I might be wrong in this assumption. However, the idea strikes a chord with me.

Frequently, I see people post on social media something along the lines of, “What do you think of this or that indicator?” Some experienced traders seem to rely on their favourites.

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That stock market thing

I never used to be all that interested in finance. I was good at saving my pocket money and later my earnings, but never really thought about what to do with the cash. My mum dealt with such matters and that suited me just fine.

Over the years, I started wondering, though, what that stock market thing was all about, but never took any action … until December 2016. That’s when I began my home edcuation by reading up ‘what is a stock’. Yes, seriously, that basic! Then I subscribed to Investopedia‘s free newsletter, which has delivered educational snippets right into my inbox ever since.

I have learnt that there are loads of things you can trade – stocks, various forms of derivates, currencies, …
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