Although a great trader/investor never relies on tips and advice in the market, there is still somewhere a piece of advice that he/she would have received/read that has helped him/her to be a conscious trader and control his/her trading game.
There are tons of sentiments, emotions, etc. that become a part of our trades which ideally should be kicked out with discipline.
It is said that Seeking and giving advice are central to effective leadership and decision-making. A person basically helps another to make sure that the other person makes the decision by him/herself, for him/herself.
Do not perceive this in terms of stock tips/advice, but would love to hear the best advice that you have received/read that has helped you become stable in the market or a piece of advice that you by heart follow, come what may.
To go first:
The best advice, one may also call it a piece of information that I keep following in the market is:
Not really a fan of “Buy the Dip”. When someone keeps buying in the downtrend, the losses compound.
Find out what works best for you as each individual has a different psychological make up. There is no holy grail. Only you and you have to find the path for yourself, nobody else can do it for you. Keep learning, keep working, keep refining.
Not advice, but one of the more important thing was to see a long established trader struggle in a bad market. Till then i did not really understand DD. Its easy to get emotionally charged up after a series of loss loss loss …