In Continuation with Previous Post Rule No. 7: Keep It Simple I’ve found that the best trading systems are simple. It’s easy to understand why they work and it’s easy to follow their rules. The more complicated a system is, the more room for error there is. That’s probably why I’m such a fan… Read More »
1. Successful traders stay neutral: Staying neutral means to be emotionally detached from your trading decisions. I’ve met many day traders that were emotionally suffering for the rest of the day after losing 1000 or even less and when they made 10000 they would be “on top of the world”. They are definitely not trading… Read More »
I like to keep things simple. As Albert Einstein said, “Everything should be made as simple as possible . . . but not simpler.” With that in mind, here is a list of 12 simple rules that I have found to be the key to successful trading. If you’re not getting the results you want… Read More »
A common problem that many futures traders run into is that they start trading, make some decent profits, then all of the sudden they encounter what seems to be an endless stream of losses. Eventually they end up losing their profits and eating away at their trading capital as they struggle to try and figure… Read More »
On September 16, 1992 – later dubbed “Black Wednesday” — the day the British government abandoned the European Exchange Rate Mechanism (ERM), and the pound was devalued by 20% George Soros made over $1.2 billion on his short sterling trade and was dubbed “The Man Who Broke the Bank of England.” His Quantum Hedge Fund… Read More »
PTJ is not only a successful hedge fund manager and philanthropist, but also very original and clear thinker. Here are some of his best market-related insights: 1. Markets have consistently experienced “100-year events” every five years. While I spend a significant amount of my time on analytics and collecting fundamental information, at the end of… Read More »
If you’re reading this blog post because you actually think there is some one thing that successful traders know that unsuccessful ones don’t, then let me first say: There is no single secret to successful trading! And by that I mean there is no secret wisdom passed down from master to pupil, or sacred texts… Read More »
By embracing a loss, really feeling it, I tend to have less fear about a potential loss the next time around. If I can’t get over the emotions of taking a loss in twenty-four hours, then I’m trading too large or doing something else wrong. Also, the process of rehearsing potential losses and confronting actual… Read More »
Markets have been particularly volatile recently, at least for intraday traders and daytrading can create a significant amount of stress. Because our bodies are designed to adapt to stress, we may fail to realize that we are stressed out. Here’s an inventory of common trader behaviors that may signify excessive stress. Signs of Stress A… Read More »
An experienced trader writes to me: “I am having a good year trading but today marks the THIRD TIME this year that I’ve made a critical error which goes against my whole philosophy of trading. I am a trend trader. That is how I make very consistent gains regardless of what the market is doing…I… Read More »