This Free Report Would've Saved Me Thousands of Dollars Hello True Market Insider Reader, I'd like to share a little story with you (I promise it'll be worth your while). About nine years ago I fell in love with a gold stock and was convinced it was a slam-dunk 10-bagger. See, the stock market was plunging at the time, and everyone seemed to be seeking "safety" in gold and silver… CNBC pundits were saying $3,000-an-ounce gold was all but certain… And the management team of my darling little mining company claimed it had exclusive rights to a property that held "millions of ounces in the ground." I was convinced this was my big chance to turn a grub stake into a small fortune. So I bought 500 shares. Well, the stock IMMEDIATELY tanked right after I bought it (it was almost like my trade was a signal for the trading gods to crush that stock). Over a two week period, it got perilously close to my 25% stop loss. So what did I do? I took the stop loss off! See, I was positive that the stock would rebound. And I didn't want to get stopped out, only to watch it go to the moon. Big mistake… In the coming weeks, it dropped to about half of what I'd paid for it. A few weeks later, after a tepid rebound, it dropped further. Up, down, up, down, all the while making lower and lower lows… This went on for about nine months. So instead of getting out with a small loss, I lost thousands. Thankfully, since I made that trade, I've learned – and relearned – a lot. And I've put those lessons to good use. Now I RELIGIOUSLY follow what Chris Rowe calls "The Lucky 10 Trading Rules." One of them is to determine before you enter a trade when you'll get out if things go sour… and to follow through with that determination. No changing your mind allowed. The other nine rules? You can check them out in this free briefing Chris put together for you. I urge you to read them as if your portfolio depends on it (because it does). That's all for now. Cheers, Doug Fogel Editor, True Market Insiders |
No comments:
Post a Comment