Remember these tips for trading in silver and for trading any securities in general:
1. In the silver market, the trading is very volatile, so don't make any all or none trades.
2. Do your buying and selling in a systematic non emotional way in smaller portions to capture the majority of the possible gains.
3. That will help you stay cool and not let the stress take a toll on you.
4. You will find that 9 out of 10 times it produces just as well as results with much less damages to your nerves.
5. It also will help strengthen your conviction about your investment thesis and confidence.
6. It can also help you realize you have made a mistake, help limit the damage and cut your loss.
7. One rule is I only average down once. If a position goes down after that, never add again to lower your cost. Wait and revaluate your reason for placing the trade. Don't just blindly continue averaging down because you can go broke that way.
1. In the silver market, the trading is very volatile, so don't make any all or none trades.
2. Do your buying and selling in a systematic non emotional way in smaller portions to capture the majority of the possible gains.
3. That will help you stay cool and not let the stress take a toll on you.
4. You will find that 9 out of 10 times it produces just as well as results with much less damages to your nerves.
5. It also will help strengthen your conviction about your investment thesis and confidence.
6. It can also help you realize you have made a mistake, help limit the damage and cut your loss.
7. One rule is I only average down once. If a position goes down after that, never add again to lower your cost. Wait and revaluate your reason for placing the trade. Don't just blindly continue averaging down because you can go broke that way.
