Steve Cohen
The best traders make money 63% of the time. Most traders make money being right 50-55% of the time.
The basic principal of being short is the presence of a catalyst. If the market is moving against you, and the catalyst is still there, reduce 50% of your postion, and quit the position if the market is still adverse.
Mark Ritchie
Many times we come across opportunities that seem too good to be true. We wonder about it. We do not act, and miss it. This is a critical mistake.
A good trader always sticks to his own idea and has the courage to trade against the crowd.
Always have a mental scenario of what to do if X, Y or Z will happen. If X, Y or Z is a surprise, you are part of the crowd.
You cannot make money unless you are willing to take risk. Willingness to loose is a fundamental prerequisite to make money in the market.
Marty Schwarts
To win as a trader, don't link your exit to your entry. If the position moves against you, just exit the trade.
Don't go against the moving average. It is destructive unless you know what you are doing.
Alexander Elder
Keeping a record of your trades and analysing them is a sign of a disciplined trader.
Gary Bielfeldt
Pick up one area and become an expert on it.
Learn discipline as well as a system. It will increase your odds of being a succcessful trader.
A good trading system requires a method to stay with the winners and cut loosers.
Handle a loosing trade without letting it get to you emotionally, and get on with your next trade.
Paul Tudor Jones
Evaluate all outstanding positions daily.
Risk control is the most important thing in trading.
The most important rule of the game is to play a great defense, not a great offence.
Define stop loss points before you enter the trade.
Best of the money is to be made when the market turns.
When trading use price and time stops. If the market does not move in the expected direction, exit the position even if in the money.
To be a good trader, you have to be a contrarian.
Always focus on protecting your capital and your gains.
Mark Weinstine
Learn the concept of overbought and oversold markets.
The biggest mistake is to have a specific traget price to get out and not market analysis.
Experience and expertise are both required to win as a trader.
Don't trade the market when not sure.
Trade with high reward to risk ratio.
The most important criteria for a trade is to check if the market is loosing momentum and then trade in the other direction.
Institutions don't sell out at one price. They scale out when the market goes up and buy when the market goes down, leading to a choppier price action.
The best traders make money 63% of the time. Most traders make money being right 50-55% of the time.
The basic principal of being short is the presence of a catalyst. If the market is moving against you, and the catalyst is still there, reduce 50% of your postion, and quit the position if the market is still adverse.
Mark Ritchie
Many times we come across opportunities that seem too good to be true. We wonder about it. We do not act, and miss it. This is a critical mistake.
A good trader always sticks to his own idea and has the courage to trade against the crowd.
Always have a mental scenario of what to do if X, Y or Z will happen. If X, Y or Z is a surprise, you are part of the crowd.
You cannot make money unless you are willing to take risk. Willingness to loose is a fundamental prerequisite to make money in the market.
Marty Schwarts
To win as a trader, don't link your exit to your entry. If the position moves against you, just exit the trade.
Don't go against the moving average. It is destructive unless you know what you are doing.
Alexander Elder
Keeping a record of your trades and analysing them is a sign of a disciplined trader.
Gary Bielfeldt
Pick up one area and become an expert on it.
Learn discipline as well as a system. It will increase your odds of being a succcessful trader.
A good trading system requires a method to stay with the winners and cut loosers.
Handle a loosing trade without letting it get to you emotionally, and get on with your next trade.
Paul Tudor Jones
Evaluate all outstanding positions daily.
Risk control is the most important thing in trading.
The most important rule of the game is to play a great defense, not a great offence.
Define stop loss points before you enter the trade.
Best of the money is to be made when the market turns.
When trading use price and time stops. If the market does not move in the expected direction, exit the position even if in the money.
To be a good trader, you have to be a contrarian.
Always focus on protecting your capital and your gains.
Mark Weinstine
Learn the concept of overbought and oversold markets.
The biggest mistake is to have a specific traget price to get out and not market analysis.
Experience and expertise are both required to win as a trader.
Don't trade the market when not sure.
Trade with high reward to risk ratio.
The most important criteria for a trade is to check if the market is loosing momentum and then trade in the other direction.
Institutions don't sell out at one price. They scale out when the market goes up and buy when the market goes down, leading to a choppier price action.
