Quote from MONROE TROUT

March 28, 2007 – 6:05 am

In The New Market Wizards: Conversations with America’s Top Traders, Monroe Trout mentioned the trading rules that he lives by.

Make sure you have the edge. Know what your edge is. Have rigid risk control rules … Basically, when you get down to it, to make money, you need to have an edge and employ good money management. Good money management alone isn’t going to increase your edge at all. If your system isn’t any good you’re still going to lose money, no matter how effective your money management rules are. But if you have an approach that makes money, then money management can make the difference between success and failure.

…

I’m excited and confident about the future. If I ever don’t feel that way, I will stop trading.

From the desk of Tradergav.com


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