Lessons for traders

  • Price goes up or down, from point A to point B, due to fundamental conditions. Hence we must understand fundamentals. However, the path price takes is not direct; it is driven by the news and emotions of the day. That’s where technical analysis shines.
  • Don’t bet big on any trade.
  • Use money management, nothing is more important to survival.
  • Fade the advisors and public; they are most often wrong while the commercials [the big guys] are most often correct.
  • Don’t let emotions run your trading game.
  • Trade what you see, not what someone tells you that you should be seeing. Forget the news; trade what you see.
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