There are plenty of little sayings in trading such as trend is your friend, catch a falling knife and such. I am curious to how many people can think of and whether they think they are helpful or completely useless.
Here is a few
The Trend is your friend : Definitely, its far better, especially for new trader to go with the flow and momentum than to try and predict a reversal and second guess the market.
Buy Low, Sell High : Nice in principal, but it is very hard to accurately predict tops and bottoms of market. Often when you THINK the market has reached the top and is going to reverse only to see it go higher, so perhaps Buy high, sell higher is more accurate.
Catch a falling knife : If you try it, usually you get hurt, both in trading and in real life lol.
What others can people think of, and is there any truth in these sayings?
Here is a few
The Trend is your friend : Definitely, its far better, especially for new trader to go with the flow and momentum than to try and predict a reversal and second guess the market.
Buy Low, Sell High : Nice in principal, but it is very hard to accurately predict tops and bottoms of market. Often when you THINK the market has reached the top and is going to reverse only to see it go higher, so perhaps Buy high, sell higher is more accurate.
Catch a falling knife : If you try it, usually you get hurt, both in trading and in real life lol.
What others can people think of, and is there any truth in these sayings?