The trading system gives the trader the ability to control his or her emotional states rather than allowing them to control him. A system is a disciplined method for organizing dynamic, ever-changing market phenomena.
Howard Abell
Trading Quotes
marți, 1 februarie 2011
Do Not Play Catch Up
I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.
Richard Dennis
Richard Dennis
Accept The Risk
To whatever degree you haven't accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something that is unavoidable will have disastrous effects on your ability to trade successfully.
Mark Douglas
Mark Douglas
Don't Optimize Trading Size
Trading Size is one aspect you don't want to optimize. The optimum comes just before the precipice.
William Eckhardt
William Eckhardt
Good Money Management Alone Is Not Enough
Good Money Management alone isn’t going to increase your edge at all. If your system isn’t any good, you’re still going to lose money, no matter how effective your money management rules are. But if you have an approach that makes money, then money management can make the difference between success and failure.
Monroe Trout
Monroe Trout
Do Not Play With Your Trading Losses
These evidently instinctive human tendencies spell doom for the trader – take your profits, but play with your losses.
William Eckhardt
William Eckhardt
Have An Open Mind
It’s not what we don’t know that hurts us; it’s what we know for sure that just ain’t so.
Mark Twain
Mark Twain
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