Decision Making Ability with Penny Stocks

When trading penny stocks online decision making is the core to you success. You have to decide on when, where and how many shares you will buy. I have a couple tips to help you with your decision making through the stock day. I feel it is important to address this topic. Every time you make a trade, you make a decision. The more decisions you make, the more you increase your self-esteem.

You grow with each decision, yet each decision has a price--you must discard a choice, and you must commit. Conditions are always imperfect! You must allow yourself to fail. Allow for human limitations and incorrect choices. Reserve compassion for yourself and your limitations.

There is so much instantaneous information available to all market players today. It is OK to use intuition and to listen to that little voice inside your head, "Does the trade feel right?" If in doubt, get out...!

Golden Rules
Finally, I want to leave you with what I believe are two Golden Rules, applicable to all traders but, of essential importance to short-term swing traders:

NEVER, ever, average a loss! Sell out if you think you are wrong. Buy back when you believe you are right.
NEVER, NEVER, NEVER listen to anyone else's opinion! Only YOU know when your trade isn't working.



Article was written by Fred Hot Penny Stocks

Fred member of Penny Stocks, and stock message board