Through the years, I have come to some important realizations, often because of blunders and trades that didn’t pan out. I’ve also found some gems that have produced some significant and repeated gains. I review these almost daily, as the payback has been rewarding. My hope is that, perhaps, a few will resonate for you. Enjoy!
- I trade my plan, no one else’s.
- I pay myself as the market makes money available to me.
- When I’m uncertain, I reduce risk.
- I most often go long on red tapes, and short on green tapes. (On sale!)
- Take significant profits on opens, but NEVER take significant losses.
- Fear (selling) is a stronger/faster emotion than greed (buying). Fear is 3x > greed.
- Bottoms are a shorter duration than tops. (Bull market)
- Tops are a shorter duration than bottoms. (Bear market)
- I wait for good hands, then extract maximum profits.
- I only enter precise risk-to-reward setups with edges, no exceptions.
- I determine the trade, not the market. I don’t chase. I let the market come to me.
- I am a bricklayer, mastering my same repetitive trade.
- Once I find a setup, I pounce. Once in a trade, I do not over analyze. Let it play out.
- Panic is not a strategy; relax.
- I buy so cheap I don’t have to sell.
- It is more important to say No to an opportunity than to say Yes.
- A trade without a closing exit alert level is a gamble.
- Fewer trades, bigger gains.
- Get comfortable making uncomfortable trades.
- The sun will rise tomorrow!
Enuf said.