Words of Wisdom

When the market makes a solid bounce off the opening price range it usually means the market will close in the direction of the bounce.

Relevance: this am's run up into yesterday's high then retrace into the opening price then bounce and run.

Happens over and over and over and over and over and over and over.........
 
Trading is like playing a musical instrument.

It can look easy, and if played well sounds great but if you want to play it takes time, tremendous effort, and for those who become great natural ability.
 
If it's easy to buy something, you don't want it.

The opposite holds similarly.

This concept is the core of my trading ideas, watch and see sometime if you can see spreaders in the markets. If you find it damn near impossible to get long while keying off another market, then you know the spreaders are jumping in front of you and all are trying to get long the spread/cover their shorts.

Hope this helps someone.
 
This one was said to me by an old trader:

"I don't look at charts, I make them."

This is one of my favorites:

"Is better to have a bad plan that not to have one."
 
These phrases come from Golf but they apply to Trading:

"Sometimes we get so afraid of hitting bad shots, we
don't let ourselves hit good ones." Butch Harmon

"I think good putters see the ball going in; bad
putters see the ball staying out. When I'm positive, I
see it going in. When I'm negative, I take the week
off." Chi Chi Rodriguez

"The secret is not hitting every shot perfect. The
secret is getting the most out of the shots you don't
hit perfect." Ben Hogan

"Not every hole is meant to be birdied." Bobby Jones

"The mind is your greatest weapon. It's the greatest
club in your bag. It's also your Achilles' heel."
Steve Elkington
 
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