Everyday it seems I get the question from a new trader about what they should do with some Stock they bought a couple days ago thats turning into a big loss for them. They bought it at High of Day and have been holding it ever since…
I can not express the importance of following this rule. Its very simple and it really should never be broken but its broken everyday by 1000s of traders. DO NOT MARRY A TRADE!!!!!! DON’T DO IT. Through sickness and health does not apply to these Small cap terrible companies that run up big on news.
I used to break this rule constantly and overtime I could not figure out what I was doing wrong. The more I learned about DayTrading the more this Rule made sense. We’re not here to invest in these small cap companies! We’re only here for the good times when these companies are flying to the moon for their brief 15seconds of fame!
Follow this rule and I promise you that you’ll see a difference in your trading! The rules are there for a reason and their not meant to be broken.
PATRICK WIELAND 