rjm77me's Blog : How to be a better Trader = Admit and write down the blooper Trades

1. The trades done at the whim of the day normally end up causing pain and loss
2. Trades due to rumors or blogs or taken because some one said so on TV can also cause some pain.
3. Not limiting your loss or admiting when one makes a bad call is the biggest item which causes loss.
4. Trade time frame is is secondary to all the above - day trader will scalp for 1/2% - swing trader is happy with 5 to 10%, position trader want 15% or more. That is what want --- question is what are you willing to give up and when to throw the towel and take some loss. Sure the stock could run up the moment you sell your position at a loss. Other side of coin is when the stock went down big right after you sold it.
5. Do not concentrate on yesterday = use it as leaning tool. Think what you need to do today or next day or next week.
6. Always know what you have in your portfoio - keep it to manageable size - size depends upon you. If you can watch the stock at least one day and want to watch 200 stock charts and news - then 200 is fine