Jeff Pierce of the Zen Trader Blog, reviewed Mike Bellafiore’s book One Good Trade: Inside the Highly Competitive World of Proprietary Trading, reiterating some important aspects made by Mike.
“Trading is not about making market calls and being reliant solely on the accuracy of your biases. Trading is also remaining mentally agile and quickly absorbing that the market is sending a clear signal for the next move in your stock.” – Mike Bellafiore
Jeff agrees strongly with Mike on this statement. One must be able to adapt quickly to a changing market, willing to take on both the short and long side of a trade. Jeff says, “the market is changing every minute of the day and sometimes a position that I like one day can behave in a way that causes me to dislike it the next”. With all the stock tips thrown at us on a constant basis it is important to do your own due diligence, making the trade your own.
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