“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” Ed Seykota
Trading Quote of the Day – June 29, 2010
“This (Trading) is not a job where you get paid by the hour. You get paid for doing the right thing.” Vadym Graifer & Christopher Schumacher, Techniques of Tape Reading
Trading Quote of the Day – June 28, 2010
“When reward is at its pinnacle, risk is near at hand.” Jack Bogle
Trading Quote of the Day – June 25, 2010
“The most important change in my trading career occurred when I learned to divorce my ego from the trade. Trading is a psychological game. Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself. You have to stop trying to will things to happen in order to prove that you’re right. … Read More
Trading Quote of the Day – June 24, 2010
“If past history was all there was to the game, the richest people would be librarians.” Warren Buffett
Trading Quote of the Day – June 23, 2010
“All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis.” Jesse Livermore
One Observation From The Trading Day
Being in the right stocks will largely dictate the type of day you will have. If you are in the most In Play names you are going to generate PnL commensurate with your skill level. This is why we have an AM Meeting to discuss the stocks that are most likely to be In Play for the day. Even if … Read More
You Don’t See That Every Day: 6 Minutes of Insanity
At around 2:30PM the SPYs were trading down to 113.60 from 117. It seemed like it was a good place to start looking for a bounce. I was keying in on the 113.10 level from March 5th as a potential dream price to get long. I got stopped out below 113 a few minutes later. At 2:42 I decided to … Read More