If you desire to be a master trader you must think masterly thoughts. Surely there is action following those masterly thoughts, but there are thoughts behind the action. Â The thoughts form the principles, the philosophy that form the basis for the actions. Â And if you even wish to get even more advanced than that, there …
You don’t trade the markets, you trade your beliefs about the market. That is one of the reasons for the wide distribution of returns. Â Various hedge funds trading the same markets. Â But one hedge fund loses -5% in a year, another gains +50% in a year. Â Why is that so? Â Well, one of the reason …
One key habit. What’s that one key habit that, I wish I did on day one? It’s the discipline of writing down – even jotting down my beliefs and rules for what the perfect trade should look like. Do this write now – quickly. Â In less than a minute. Just write down quickly what you …
One of the great battles fought every day on the trading battlefield. It is of the stale versus the electrifying trading information. In one of my earliest books I read (Trading & Exchanges: Â Market Microstructure for Practitioners) which helped form the foundation for my trading philosophy, it includes a few key pages on stale …