"Most traders donât have a winning strategy. Even among those who do, many donât follow their strategy. Trading put pressure on weaker human traits and seems to seek out each individualâs Achillesâ heel."
"According to my theory of initially self-reinforcing, but eventually self-defeating trends, the trend is your friend most of the way; trend followers only get hurt at inflection points, where the trend changes. Most of the time I am a trend follower, but all the time I am aware I am a member of a herd and I am on the lookout for inflection points."
To be a successful trader you need to know poker, chess and fishing.
You need to know how to be aggressive and read people; you need to be able to strategize the offense and defense and plan many moves ahead. Most improtantly, you need to be patient.
Successful traders depend on the 3 Mâs â MIND, METHOD and MONEY. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology â their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options, or futures as well as FIRM RULES FOR PULLING THE TRIGGERS â deciding when to buy and sell . Money refers to how you manage your trading capital.
September is an extremely dangerous month to invest in the stock market.................. so is october, november, december, january, february, march, april, may, june, july and august
Show me the charts, and I'll tell you the news. Have an opinion on what the market should do but don't decide what the market will do. Be happy with a percentage of the move.