Chapter 10: The Investors’ Guide to Success
In the last 9 Lessons we have covered lots of key topics and provided you with the wisdom of our trading experience, but keep in mind we have merely scratched the surface of a complex world.
You now have the foundation to understand the vocabulary and jargon of the stock market, you have the background to understand economic cycles and how they influence the markets, and you have gained some experience of placing a variety of trades and seeing how they perform.
Hopefully, in those virtual trades you have experienced more of the “thrill of victory” than the “agony of defeat” that we discussed in the very first chapter.
Hopefully, you are riding your winners and cutting your losses.
Hopefully, the trend has become your friend.
Hopefully, you are using stop loss orders, or at least never allowing yourself to lose more than 15% on a single trade.
Hopefully, you are dollar cost averaging into your positions and dollar cost averaging out on some.
The next few topics will help you remember the things we have covered, and give you some more ideas to think about for your investing future.