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EMOTIONAL TRADING
By Al Thomas
EMOTIONAL TRADING by Al Thomas
THE ALCHEMIST by AL THOMAS
EMOTIONAL TRADING
The single most expensive stock market trades are those made with emotions, but, of course, you are
not an emotional trader are you?
Before you bought that stock, mutual fund or Exchange Traded Fund (ETF) you did your research to
be sure that what you were buying would return
a good profit over the long haul. You bought it and over time you look at it less and less.
Ask yourself: when you plunked down your hard earned money did you have any idea where you
would sell it or where you might exit the trade should
the stock go down instead of up? And suppose it has gone up have you made any plans to protect
those profits?
There were many geniuses in 1999 who bought a tech stock at $20 and saw it run to $200 only to
come back down to $2. Those who had an exit strategy probably sold out as it turned over and
dropped like a rock. They kept most of their profits as well as their original investment.
What kept those BuyNholders in? It was emotion. They fell in love with the stock because they “knew”
it was worth more and would “come back up”.Investing is not an “I hope, I hope” business,
but it is a business. Never become emotionally attached to anything you buy. If you were in the buggy
whip business in 1900 and saw the automobile
putting the horse out to pasture you easily knew it was time to sell out. That also applies to any
investment you make in the stock market.
Once each month you should be checking to see if