Thursday, May 3rd, 2007
It is time to read some rules again. While working on my Forex trading strategies, I visit forums regularly. There are indeed some brilliant people out there sharing their work and ideas (though there are garbage and nonsense as well). In Forex Factory, user lever70 caught my attention when he/she ...
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Tuesday, April 24th, 2007
Tony Saliba discussed the elements of good trading in Market Wizards: Interviews with Top Traders.
Clear thinking, ability to stay focused, and extreme discipline. Discipline is number one: Take a theory and stick with it. But you also have to be open-minded enough to switch tracks if you feel that your ...
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Wednesday, March 28th, 2007
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 ...
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Saturday, March 24th, 2007
Gil Blake has a routine of internalizing how he would feel given what might happen on the next trading day in The New Market Wizards: Conversations with America's Top Traders.
My approach is to confront losses even before they materialize. I rehearse the process of losing. Whenever I take a position, ...
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Wednesday, March 7th, 2007
Quote from an interesting article If you want to be rich, first stop being so frightened
If you are unwilling to fail, sometimes publicly, and even catastrophically, you stand little chance of ever getting rich.
If you care what the neighbours think, you will never get rich.
If you cannot bear the thought ...
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Monday, March 5th, 2007
Mark Weinstein have some advices for the beginning trader in Market Wizards: Interviews with Top Traders.
You have to learn how to lose; it is more important than learning how to win. If you think you are always going to be a winner, when you lose, you will develop feelings ...
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