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Josh,
I respect your opinion and think you gave some good advice here and in other threads. But I think your #4 and #6 are horrible ideas for most traders, and especially for a new trader. IMO, adding to a loser and not using stops are cardinal rules that should never be broken. It's a recipe for disaster and irresponsible to suggest to a new trader. That is just my opinion.
Respectfully,
Chris
And your opinion is well received and respected as well, though it differs from mine. Just to be clear, I did not suggest anyone do anything (such as not use stops). Just presenting a different view.
@Mozes21 , just to be clear, they're not rules at all, and that's maybe the most important thing to understand. What specifically are you referring to?
Everyone starts off in the same way, and learns or gives up having lost all their money. I don't like losing trades so I read as much as I can and educate myself to not make the same mistakes in the future. that works for me. I feel that this industry is deceptively hard, it looks easy and people think its easy to make money consistently. In my experience it certainly is not! but I think some sound good advise in this forum to help.