That is some interesting detail on the nuggets. A nice morning walk with a metal detector - why not???

I love hearing five year plans...a lot of people dont have an idea where they would want to see themselves after 5 or 10 years.

Wishing you all the success in the direction of your dreams!!

The importance of Stop Loss

Not putting a stop loss order to the shares you purchased in the stock market is like sky diving without a parachute on. After all the market is about manipulators who control the stock price. And you definitely don’t want to be a victim of their little psychological games. That’s the reason why I say that stock market is all about emotions!!

How do manipulators work? We call them the insiders who own the majority of Company shares. As you know, the stock price rises or falls depending on supply/demand, the insiders can play an important role in the whole thing.

Placing a stop Loss orders is not an option, consider it as mandatory if you want to minimize your losses. Can you imagine driving a car without break pedal?? Well its something like that...

Now that I reasoned out the importance of stop loss, it’s really important to know how to place a stop loss. You don’t want to set it at a price where it kicks in too quickly and you end up making a fool out of yourself.

If you ask me, I would study the high and low’s of the stock price in the last 10 – 12 days and then decide the price at which I want to place the SL order.

It’s also a good idea to revise your stop loss every day depending on the fluctuation. Studying the stock’s performance in the last 4 weeks can give quite a clear picture.

Happy trading!!

Thanks for writing and elaborating everything in such an easy to understand way!

Most people think they have to parole their stocks on an hourly basis, meaning sit like hawks and watch it, which makes sense if you are an amateur trader.