Four Lessons From Three Decades Of Trading by Thomas Bulkowski
If you had the opportunity, why not learn a thing or two from those who have already figured out what works and what doesn’t? Here’s a chance to soak up some wisdoms as one trader shares lessons he learned as he traveled along his 30-year trading journey.
When I first started out, I taught myself fundamental analysis and then added technical analysis, so that today I use a comfortable blend of approaches. My trading activities allowed me to retire at the age of 36. That was over 20 years ago. Let me share four trading lessons I learned along the way.
1. Hold longer. Earn more
In 2005, I read an article about an accounting firm that handled the tax returns for over a thousand traders. Of them, 36% were profitable in 2004. In addition, just 4% of them made over $50,000 trading. In 2004, the S&P 500 index closed the year 9% above where it ended the prior year. The NASDAQ Composite gained 8.6%. I made 19.2%...