Trading Quote of the Day – July 1, 2010

“One common adage…that is completely wrongheaded is: You can’t go broke taking profits. That’s precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits.” William Eckhardt

Trading Quote of the Day – June 30, 2010

  “The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” Ed Seykota

Trading Quote of the Day – June 29, 2010

“This (Trading) is not a job where you get paid by the hour. You get paid for doing the right thing.” Vadym Graifer & Christopher Schumacher, Techniques of Tape Reading

Trading Quote of the Day – June 25, 2010

“The most important change in my trading career occurred when I learned to divorce my ego from the trade. Trading is a psychological game. Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself. You have to stop trying to will things to happen in order to prove that you’re right. … Read More

Trading Quote of the Day – June 23, 2010

“All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis.” Jesse Livermore

One Observation From The Trading Day

Being in the right stocks will largely dictate the type of day you will have. If you are in the most In Play names you are going to generate PnL commensurate with your skill level. This is why we have an AM Meeting to discuss the stocks that are most likely to be In Play for the day. Even if … Read More