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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Stock market for beginners. Code of conduct to be followed

Stock market for beginners. Code of conduct to be followed

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Asoka Samarakone


Expert
Expert

Stock market for beginners.
Code of conduct to be followed. 

Don't just invest in something without completely thinking it over.
Don't invest money that you cannot afford to lose
Don’t be influenced by the opinions of others.
Don’t trade other people’s ideas.
Don’t buy all the stock at one time, buy a small amount at first and see what happens. Spread out your buying time over days or weeks. If it goes down a little, buy some more. If it goes down a lot, you may want to get out limiting your losses.
Invest in more than one or two stocks so that lose in one stock can recover from the profit in another one.
Don't ever chase the market - always by weakness and sell into strength
Take responsibility for all your actions – don’t blame the market or world events.
Trade well and for the love of trading, not to trade often and not for the money.
There’s a ton of fish in the sea, so with literally thousands of stocks out there to trade, it’s OK to refuse a few of them.
There will just be some that don’t move the way you may anticipate. Some stocks give clearer signals than others, so why mess with the ones that don’t seem to work for you?

Blaming others and looking for faults will put you increasingly at the mercy of negative factors beyond your control. 
(Learn as much as you can and apply the knowledge to whatever situation is applicable.)
Not every trade you make will be a winning trade, so you must make sure that you make more money from your winning trades than you lose with your losing trades.

Never think that taking money from the market is easy.
Don’t try to guess the future – trading is a game of probabilities.
Use your head and stay calm – don’t get excited or depressed.

Don’t count how much money you have made or lost while you are in a trade - focus on trading well.
Do not be emotional about a trade – you will lose some and win some. Know the reason why you entered a trade and stick to those reasons. The less emotional you are the more successful you will be. Stick to your game plan.
The bottom line is you have to PREPARE YOUR SELF to be successful, just like you would do it in other areas of your life in order to achieve success.
You as a trader analyze from your own perspective and learn new perspectives
Always remember that you are the captain of your financial ship, so keep aware and lead it with a steady hand.
Good luck and safe trading 
Asoka Samarakone 

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