Predicting price direction
I’m also a firm believer in predicting price direction, but not magnitude. I don’t set price targets. I get out when the market action tells me it’s time to get out, rather than based on any...
View ArticleLearning the markets can take years
Understand that learning the markets can take years. Immerse yourself in the world of trading and give up everything else. Get as close to other successful traders as you can. Consider working for one...
View ArticleLinda Raschke trading wisdoms
In the world of professional trading and money management, Linda Raschke stands out from the crowd for three factors (all of which should be priorities for any serious trader): Performance, Longevity...
View ArticleMistake I’ve frequently made
Mistake I’ve frequently made is participating in too many markets at one time, which leads to sloppy trading. I’ve also found that it’s my smallest positions that cause my biggest losses, because they...
View ArticleManage the bad trades
Manage the bad trades is the most common block to success. What this really means is, managing to get out of the bad trades. So don’t manage a bad trade, get out and manage to get out sooner rather...
View ArticleThe markets are a personal journey
The markets are a personal journey and every trader is destined to learn market truths for themselves. The learning curve is as much about figuring out what doesn’t work as it is discovering which...
View ArticleTrader’s greatest losses
Any experienced trader can tell you that his greatest losses have been taken on those rare occasions where he substituted stubbornness for a proper stop loss technique. The proper way to trade is to...
View ArticleSuccessful trading is about minimizing mistakes
Successful trading is about minimizing mistakes or “unforced errors”, to use a sports analogy. It’s not about brilliant analysis or out-smarting the market. It’s about perseverance, consistency and...
View ArticleA few notes on trend
A few notes on trend by Linda Raschke published in her great book Street Smarts: High Probability Short-Term Trading Strategies Once a trend is established, it takes considerable power and time to turn...
View ArticleMost professional traders are “bean counters”
Most professional traders are “bean counters”. Steady profitable trades add up quickly. A trader must accept that the main things that count are the small trades that build up your equity. It’s not...
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