I was listening today and the guest was talking about Investor decision making. In summary he said: 1) Buy low sell high 2) Don't buy "hot stocks" 3) If you want to buy a stock wait 2 weeks 4) Investors close loosing positions too quickly! I think this guy is full of crap and has everything backwards. How do you define high or low? This is bad advice because the terms must be anchored to something which they are not. This leads to trading against the trend when you should trade with the trend. Sometimes hot stocks are hot for a reason, how about goog. According to this guy, you should not have bought goog at $200, because it was high and a hot stock. What happens in 2 weeks? If I don't know what I'm doing, will I know what I'm doing in 2 weeks? The reason traders/investors fail is that they are unwilling to close loosing trades fast enough.