When you were still a newbie in the trading realm, you entertain jitters and you enter ventures in cold feet. That’s quite normal. The stock market day trading is dynamic, so it’s logical to feel that way.

But you can reduce the level of fear by practicing by heart some of the lessons that trading gurus want to impart:

1. “Rule number one of investing is never lose money. Rule number two is never forget rule number 1.” - Warren Buffet

2. “I’m more concerned about controlling the downside. Learn to take the losses. The most important thing about making money is not to let your losses get out of hand.” - Marty Schwartz

3. “Diversify your investments.” - John Templeton.

4. “Don’t bottom fish.” - Peter Lynch.

5. “Maybe the trend is your friend for a few minutes in Chicago, but for the most part it is rarely a way to get rich.” - Jim Rogers.

6. “I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.” - Paul Tudor Jones.

This entry was posted on Wednesday, July 25th, 2007 at 8:08 am and is filed under Day Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.