How you trade becomes your style, and your style is uniquely yours.
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Category Archives: Editorial
Be careful what you say to yourself, you get more of it
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If all you do is complain about what’s not working, you get more of ‘what’s not working.’
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Managing risk comes down to dealing with uncertainty
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Managing risk comes down to dealing with uncertainty.
The best you can do is put in your protective stops.
The real random part is how much upside will the market give you?
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Pedigree is more marketing than a predictor of success
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I don’t know of a single factor or variable in your life that will have more of an impact on your long-term success in trading than keeping your losses small.
Pedigree won’t mean much if you can’t enter your protective stops and keep losses small.
“Deep Thoughts” was written by Jack Handey, not Al Franken. I misspoke at the beginning of the episode.
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Why trading without stops is gambling
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Trading is about expected values.
The determining factor in establishing those values is the placement of your stops – your stops to enter trades, exit losers, and to exit winners.
If you wing any part of these, the expected value of your trading goes out the window.
At that point, you are putting your whole enterprise up for a gamble.
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