If you have any general financial tip to share, post it in this thread.

Tip: Don't fear corrections, they're not always a precursor to recession. Here are some big corrections from history that didn't turn into a recession:
Year losses
1939-40 -31,9%
1941 -34,5%
1943 -13,1%
1947 -14,7%
1961-62 -26,4%
1966 -22,2%
1967-68 -10,1%
1971 -13,9%
1978 -13,6%
1983-84 -14,4%
1987 -33,5%
1998 -19,3%
2002 -14,7%
2010 -16,0%
2011 -19,4%
2015 -12,4%

They look scary, don't they, but you know what? Those corrections were actually a very good opportunity for investing. Here are the gains that came out of those corrections in the following years:
year losses, 5 years after, 10 years after
1939-40 -31,9% +110,2% +231,2%
1941 -34,5% +120,6% +369,5%
1943 -13,1% +64,6% +267,7%
1947 -14,7% +139,0% +359,5%
1961-62 -26,4% +78,8% +155,4%
1966 -22,2% +48,9% +90,5%
1967-68 -10,1% +10,5% +37,6%
1971 -13,9% +27,9% +88,6%
1978 -13,6% +119,2% +346,2%
1983-84 -14,4% +152,1% +281,2%
1987 -33,5% +107,9% +419,0%
1998 -19,3% -2,9% -12,8%
2002 -14,7% +34,4% +32,8%
2010 -16,0% +103,6% //
2011 -19,4% +79,1% //
2015 -12,4% // //
Avarage -19,4% +79,6% +205,1%

Does a +419,0% gain look scary to you? I thought not. Corrections are magic!

You need $100 000 to get $378 rent every month. So, ask yourself. Do you have $100 000? Can you make a living with just $378?

I hope you answered both of those questions with a yes, otherwise you have a big problem on your hooves.

When making trades, try to stay objective. There are loads of traps in your mind that can lead you astray if you don't pay attention to them.