The Importance of Honoring Stop Losses

I love talking with the variety of traders I do. Some are brand new to the point they’ve never even traded with real money. Others are in valleys of desperation and frustration. Then we have those like this episode’s guest, Dale, who are doing fantastic. Of course it was not always fantastic for Dale, but he’s persevered through a whole lot and continues to only get better (and he’s already real good). Dale has some fantastic observations, especially about the threats of FOMO (fear of missing out). He’s done some really stupid things since he began (I say that as a compliment for being willing to publicly talk about it), but these are things you can learn from. How? Simply do the opposite of what he shares. I really enjoyed this conversation and I’m sure you will too! Let’s get to it!