Trader, Know Thyself. What most determines your success in trading is not your chosen method and not even your risk management. It is you, you will be the one to chose whether you will make it or not. Your perseverance, your faith in your chosen system, you self control in position sizing, whether you can […]
Ed Seykota’s Student Speaks Read More »
For a moment let’s put aside our personal opinions about George Soros and his politics and just look at what he has to say about how to trade successfully. On September 16, 1992 – later dubbed “Black Wednesday” — the day the British government abandoned the European Exchange Rate Mechanism (ERM), and the pound
George Soros’ 10 Best Quotes Read More »
What wins championships in football? It is said to be a great defense is the main component of a championship football team. In football you win by scoring more points than the opposing team, this is much easier on the offensive side of the ball for a team if the defense keeps the score low.
A book review for: TREND COMMANDMENTS by Michael Covel This book is based on the author Michael Covel’s extensive 15-year study of the world’s top trend following traders such as Ed Seykota, Paul Tudor Jones, the Turtle Traders, Larry Hite, and many others. This is not a book filled with Mr. Covel’s opinions, as it’s
Thou Shalt Follow the Trend Read More »
In trading, money is simply made by making more money when you are on the right side of the trade than you lost when you were on the wrong side. That is rarely understood. Even many of the best traders in the world only win 50% of the time or less. In baseball the pitching
Systems don’t need to be changed. The trick is for a trader to develop a system with which he is compatible. -Ed Seykota Traders can make psychological mistakes that can quickly endanger their career. Here are a few examples: They take on more risk than they can deal with. When stress takes over, traders start making bad
You Are Not Your Trade Read More »