In Continuation with previous 2 article Ed Seykota’s Trading Style Part-I Ed Seykota’s Trading Style Part-II Ed Seykota’s Trading Style Part-III Embrace Whipsaws Trading Systems don’t eliminate whipsaws. They just include them as part of the process. Do Not Predict Or Anticipate A computer can follow a system and place orders without making predictions… Read More »
In Continuation With the Previous Ed Seykota’s Trading Style Part-I Risk Below 5% of Equity Per Trade I intend to risk below 5% on a trade, allowing for poor executions. Occasionally I have taken losses above that amount when major news caused a thin market to jump through my stops. Risk no more than you… Read More »
Ed Seykota’s Trading Style My style is basically trend following, with some special pattern recognition and money management algorithms. In order of importance to me are: (1) the long-term trend, (2) the current chart pattern, and (3) picking a good spot to buy or sell. Those are the three primary components of my trading. Way down in… Read More »
How could an experienced trader lose his entire fortune? Why didn’t Jesse Livermore follow his own trading rules? – rules that should quickly have closed his losing positions. In 1917, with great foresight, Jesse Livermore had bought $800,000 worth of annuities. His objective was to ensure his family had an income in case he lost… Read More »
ODDS ARE AGAINST YOU BEING A SUCCESSFUL TRADER Sorry to burst your bubble but failure is the highest probable outcome for most in this business. Failure doesn’t come because the markets are “rigged” or the belief that “they” are monitoring your odd lot trades to take the other side only to cause you pain in… Read More »
“A stock operator has to fight a lot of expensive enemies within himself.” – Jesse Livermore As Old saying says Learn from the mistake of other so as you do not have to repent again. Jesse Livermore was a pioneer in the trading world. He was one of the very first trend traders, rule based… Read More »
I’ve been getting a lot of questions about Trading Confidence ,today we will discuss on trading confidence. In my experience as a trader and performance coach, I see three types of confidence among traders, and the type of confidence is of critical importance when it comes to discipline. The three types of confidence: False Confidence… Read More »
Winning traders take responsibility for all their trades win or lose. Losing traders play the victim of algos, the RBI, and blame the markets for their losses. Winners have a trading plan Losing Traders have emotions, ego, and blame. Winners find a way to be profitable. Losing Traders find an excuse why… Read More »
In Continuation with Previous Article How to Cure Your Trading Problems Step 4 – Commit to your plan and commit to persistent discipline Persistence means that you continue doing something even in the face of difficulty or adversity. In trading, persistence is a key ingredient to success. If you cannot muster the discipline to persistently… Read More »
Being in denial of one’s trading problems is the most dangerous stage of the trading journey. At one point or another, all traders go through this ‘denial stage’ with their trading problems, and how fast they get through it or if they get through it, is what determines when they get on the path to… Read More »