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Trading Pearls of Wisdom

 

 

  • Uncontrolled losses can wipe out a lifetime of profitable trading

  • Never allow a winning trade to turn into a loser

  • Be aware of your responses to winning and losing trades

  • It takes knowledge and discipline to avoid mistakes

  • In trading, as in fencing, there are the quick and the dead

  • Talk is silver, silence is gold. Traders with the golden touch do not talk about their success

  • Do not let ego and greed inhibit clear thinking and hard work

  • We cannot do anything about yesterday. When one door closes, another door opens. The greatest opportunities are through the open door

  • The market is always right, it reflects all forces acting upon it

  • It is much easier to enter a trade than to exit

  • Beware of large positions that can control emotions

  • Do not be overly aggressive with the market. Grow profits steadily over time

  • Never add to a losing position

  • Beware of trading tops and bottoms

  • Anticipate the next big movement with facts, not predictions

  • There is always another trading day

  • Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss

  • Anticipate the market's reaction to news and events

  • Successful traders make decisions on what is happening, not what will happen

  • A profit taken too soon is still a profit

  • If you do not know who you are, the market is an expensive place to find out

  • Continuous improvement

  • The deepest secret for the trader is to subordinate his or her will to the will of the market

 

 

 

 

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