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Rules from the Masters

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  #61  
Old 15th November 2013, 09:41 AM
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Default Re: Rules from the Masters

excellent thread!!!!!!!!!!!!
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  #62  
Old 21st March 2014, 04:09 AM
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Default Re: Rules from the Masters

Thanks for these rule, specially last one.
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  #63  
Old 8th August 2014, 11:46 AM
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Default Re: Rules from the Masters

Quite helpful.
Though i knew few things,but it was good revision.
I have learn few more good points and i'm very sure it will help me in future.
Thankx
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  #64  
Old 13th August 2014, 04:02 PM
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Default Re: Rules from the Masters

Quote:
Originally Posted by ivanboesky View Post
next: Joe dinapoli
he actually gives us 11 pieces of advice... Number 11 is what this forum is all about!!

trading and the importance of a plan

1. Loss of opportunity is preferable to loss of capital.

there was a time when i felt it was my duty to be personally involved in every wrinkle of the s&p. I've traded this market since it's inception in 82. It took quite a while for me to realise that picking safe, readable, and high probability winning trades was the way to go.

2. Use logical profit objectives for all positions.

the concept of using and executing lpos is one of the most important i know of. It keeps your percentage of winning trades high and gets you back to the computer the next day. Everyone enjoys a pay day. With the correct concepts this is something you can do.

3. Place your logical profit objectives in the market ahead of time.

markets are squirrelly animals. If you know how to calculate your profit objectives, get them in the market ahead of market action. If you wait for the alert to go off, hoping to capture more, it's likely the market will move away from your exit before you have time to execute your order.

4. Enter markets on retracements.

don't buy new highs or sell new lows. Wait for the market to come to you. Precalculate your entries and be patient. If you miss the move another bus will come by shortly.

5. Above all, follow your trading plan.

having a clearly defined trading plan is the single most important aspect of profitable speculation. Never trade without one and once you have it, following it is more important than any single profit or loss.

6. Trade quietly.

with the exception of a mentor, tell no one about your positions, profits, or losses. Especially those close to you, like your wife, husband, or friends. This self-gratification process or sharing process puts you under psychological pressure to win on every trade and can be a primary reason for failure to follow your plan.

7. Don't carry a sizeable position while traveling.

it will catch you!! The laptop won't work. The hotel internet connection will break. The cell phone battery will run out. The plane won't land! I know you'll try it anyway. It's good for the markets, we need to spread the money around a bit.

8. 'you are only one trade away from humility.'

for over 15 years this tattered hand-written sign, scrawled with bold black strokes with a magic marker, has hung over my trading table. A swelled head does not belong on a trader's shoulders.

9. Add to your knowledge before attempting to add to your wallet.

this seems obvious but somehow many newbie traders think they can become pros with little more than a computer and hope. In this business hope is a four letter word. I hear the following a dozen times a month. "i only wish i came across you before i blew 50-500 grand." i was here. Others like me were here. They thought it was easy and needed to find some humility. Now they're ready to progress.

10. Develop your sense of humour.

you'll definitely need it.

11. Help other traders whenever you can.

this is more practical than philosophical: Giving keeps the ego in line and when you need help, and you will, you'll find it!
thanks a lot.
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  #65  
Old 14th August 2014, 01:54 PM
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Default Re: Rules from the Masters

.................................................. .................................................
1]learn to use charts and technical indicators in a clear, simple and concise manner to improve your trade entries and exits
2]Further refine your ability to use S&R lines, trend lines, candlesticks, continuation patterns and more.
3]Learn how to truly understand and use Indicators for what they were designed
4]Learn how the new cutting edge TotalView.Fibonacci numbers and ratios point to specific turning points in the markets' movements. Learn how to use Retracement, Extension and Projection Analysis to maximize your profits and tightly control the losses
5]it is essential that you learn effective Stress Management skills.Successful traders, no matter what the financial instrument, have all learned the specific rules to Risk Management, Capital Preservation and Discipline
6]Setting the trap - how to trade against the masses, with the right tools at the right time.Apply advanced price action analysis to enhance decision making.Consistently identify low risk/high/reward and high probability opportunities
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  #66  
Old 9th February 2015, 12:07 PM
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Default Re: Rules from the Masters

Found some great quotes from the biggest investors of this era..hope you'll enjoy reading them all :

1) “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case”- Robert G.Allen
2) "Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas"- Paul Samuelson
3) “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.” - Warren Buffet
4) “If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring” - George Soros
5) “Know what you own, and know why you own it"- Peter Lynch
6) “If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume”-- Benjamin Graham
7) “I buy when things are low and no one wants them. I keep them until they go up, and people are crazy to get them”- Hetty Green
8) "Investing without research is like playing stud poker and never looking at the cards"– Peter Lynch
9) “I only make mistakes, which I can afford, where I can lift to begin again”- Rakesh Jhunjhunwala
10) "Successful stocks don't tell you when to sell. When you feel like bragging, it's probably time to sell." - John Neff
11) "I don't want a lot of good investments; I want a few outstanding ones."- Philip Fisher
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  #67  
Old 1st August 2015, 11:36 PM
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Default Re: Rules from the Masters

All rules are bullshit just written out of boredom.
There is only 1 side to market that is right side.
and when can u know it;s rght side U cann;t coz person that has billion of dollar
will not tell u hey i am buying . u only see 1 big Green candle up move probably got over already.
Or gap up and u missed

Last edited by test123; 1st August 2015 at 11:53 PM.
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  #68  
Old 22nd September 2015, 10:51 PM
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Default help me

Hello all traders,Please help me with a solution

I am staying in bangalore, having laptop and dongle,uses amibroker,
want to trade outside my staying place, as lot of disturbance at my staying place, where can i go and trade out side i may need pulg point and for MCX
till night 11pm what to do, i can not change stay place.please all intelligent people help me where i go and trade with a low cost solution?
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  #69  
Old 20th January 2016, 03:01 PM
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Default Re: help me

Quote:
Originally Posted by mubhakar View Post
Hello all traders,Please help me with a solution

I am staying in bangalore, having laptop and dongle,uses amibroker,
want to trade outside my staying place, as lot of disturbance at my staying place, where can i go and trade out side i may need pulg point and for MCX
till night 11pm what to do, i can not change stay place.please all intelligent people help me where i go and trade with a low cost solution?
i am also same problem in tamilnadu
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  #70  
Old 25th December 2016, 08:03 PM
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Default Re: Rules from the Masters

My personal view trading the trend is easy, but when the consolidation/range bound happens we tend to cut short or loose money, so predicting the choppy phase very early is most imp.
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