Here a little 70 pages pdf by George Coyle about the principles of great traders.
Also …
Lessons from the trading great
By Macro-ops.com
PRINCIPLES OF GREAT TRADERS
- Thread starter Sekiyo
- Start date
Here a little 70 pages pdf by George Coyle about the principles of great traders.
Also …
Lessons from the trading great
By Macro-ops.com
That’s it.
Hard to believe it boils down to 3 or 5 principles
When we spend 24/7 looking for the ultimate indicator
Hahaha
Unless it’s written in size 1
I believe 70 pages is a little pamphlet
Could be the size of 1 chapter in another book
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I dont know how Paul Tudor Jones shoots ducks.
Most likely aims for greenheads; implied with his public service ad in Ducks Unlimited Magazine. .I like to aim for the lead duck, if one drops , its usually the middle duck in a flock
Sharpshooter Alvin York, said his dad shot the last duck + walked up his shots. But that requires much more timing skill.
I like sarcasm sometimes but dont try this @ home;
dont look @ your charts, uptrending SPY benchmark or truth on your tape. Panic after the fake stocks+ bonds tumble article LOL+ churn the account .
I dont know how Paul Tudor Jones shoots ducks.
Most likely aims for greenheads; implied with his public service ad in Ducks Unlimited Magazine. .I like to aim for the lead duck, if one drops , its usually the middle duck in a flock
Sharpshooter Alvin York, said his dad shot the last duck + walked up his shots. But that requires much more timing skill.
I like sarcasm sometimes but dont try this @ home;
dont look @ your charts, uptrending SPY benchmark or truth on your tape. Panic after the fake stocks+ bonds tumble article LOL+ churn the account .
Yes! But each has a double edge, (triple edge?) in the details.
Cut Loser, but not before it has a chance to be a winner, but not before a bounce if one is about to happen if you are using that as an indicator of when to "cut".
Listen to Price, but sometimes it is not saying anything and not saying anything is also saying something. Sounds like some proverb.
Ride Winners, but balance risk-reward over time. Winner eventually end, but when to "get off the ride".
Manage emotions, now that is a catch all!
I think for the first three, you have to have a sort of crystal ball type indicator that tallies up all the data before the P/L slips from good profit to mediocre profit. Waiting for after the fact is leaving too much "meat on the bone".
Yes, timeless advice, but I need each of these precisely and mathematically defined. That way I can apply some data science and try to find positive expectancy before I spend lots of time and money validating a particular idea or philosophy (possibly years.)
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Listen to price\
that sounds a bit like PT Jones pit trading days ''stuck his ear on the railroad track''
Most of the rail road money is made not by the unions, or train on the tracks;
its stockowners, traders, owners , off the track ,can do very well. Average RR engineer =$29k-$105,000, good money.
Markets, trains, price, can stay nicely between the 2 tracks ;
but no such thing as ramrod straight train track for long/look @ any map of traintracks