Personal Finance 101

Written by Tyler |

David, over at ETF Digest has a very nice list that I think that we can all learn from…even if we are long term investors and not market traders.

Here is some advice that we may all take advantage of from time to time.

1. Make Every Indicated Trade Every Time

2. Turn Off The TV During Market Hours

3. Market Sector Rotation Is A Fact Of Life, So Diversify

4. Accept Your Trading Losses As A Cost Of Doing Business

5. To Avoid Severe Losses, Stocks Must Be Traded

6. Have Respect For The Successful Methods Of Others

7. You Don’t Need A PhD To Make Money In The Markets, But You Do Need A Good Feel For The Trigger

8. At Any Given Time, The Market Can Make Anyone Look Like An Idiot. Always.

9. If You Have To Forecast, Forecast Often.

10. Things Change.

I have to say that a lot of these are more apt to be useful for investors/traders with shorter time frames, but there are a few gems that us long term investors can take away as well.

One that I have certainly put into practice is #6.  I do know that there are a lot of ways to make money in the markets and we must find the style that best suits us in order to be consistently profitable.

Which one(s) hit home for you?