What is the single, most effective piece of financial advice you've ever received?

Discussion in 'Professional Trading' started by Vincent S. Ashmore, Jan 26, 2016.

  1. Learn.png
    #11     Jan 26, 2016
    matthewyoung, NoBias and KDASFTG like this.
  2. "Invest at least 10% of your money in your education and development."
    #12     Jan 26, 2016
  3. #13     Jan 26, 2016
  4. When I was very young my uncle told me "Save every penny you can while your earning power is the greatest". And now I'm the miser that he was!
    #14     Jan 26, 2016
    Alpha Trader likes this.
  5. achilles28


    Wrong for a penny. Right for a pound ;)
    #15     Jan 26, 2016
  6. speedo


    It would be well for a trader to consider this...."You can't eat like a bird and shit like an elephant."
    #16     Jan 26, 2016
  7. garachen


    The idea that there are earning plateaus.

    Roughly 50k, 150k, 300k, 1m, 3m, 10m.

    And that moving from one plateau to the next usually takes doing something different or acquiring a new skill. Not just doing the same thing better.
    #17     Jan 26, 2016
  8. K-Pia


    That's a more lively, illustrative, version of what Achilles28 said.
    "Wrong for a penny. Right for a pound"
    #18     Jan 26, 2016
    speedo likes this.
  9. Buy1Sell2


    Never risk more than 2% of TLNW (Total Liquid Net Worth) on any one trade/idea.
    #19     Jan 26, 2016
  10. Always avoid margin calls.
    #20     Jan 26, 2016