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Trade Management & Quotes For Traders

  
  Education
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Trade Management

  • Let winners run. While momentum is in phase, the market can run much further than might be expected.
  • Corollary to that rule: Do not exit winners without reason!
  • Be quick to admit when wrong and get flat.
  • Sometimes a time stop is the right solution. If a position is entered, but the anticipated scenario does not develop then get out.
  • Remember: if one thing isn’t happening the other thing probably is. Historically, this has never been good for me…
  • Be careful of correlations. Several positions can often equal one large position bearing unacceptable risk. Please think.

Trading Quotes :

  • I am responsible for risk management, money management, trade management, doing the analytical work and putting on every trade that comes.
  • I am not responsible for the outcome of any one trade. Markets are highly random. I do not have a crystal ball. I am not as smart as I think I am.
  • Risk management is the first and last responsibility. I can make almost any mistake and be ok as long as I do not violate my risk management parameters.
  • Opportunity comes every day. Do not neglect the work. Must do analysis every day.
  • Opportunity comes every day. Get out of poor positions. Move on.
  • I am a better countertrend trader than a trend trader. Sometimes the crowd is right, and they will run me over at those times if I’m not quick to admit I’m wrong.
  • If you’re going to do something stupid, at least do it on smaller size.

10 Questions for Traders

  
  Education
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Traders must have rules and trading plans because in the heat of trading when emotions flare up that is when greed, fear, and ego can easily hijack the trader. Traders all have many different conflicting parts that can interfere with trading execution. The need to be right, the need to make money, the fear of loss, and the greed of making a lot of money can take over any trader that does not have a disciplined approach that is created before the day begins. Mechanical systems, trading rules, along with positions sizing and risk management factors can keep a trader safe from making huge mistakes.

Here are the top 10 Questions Traders must ask to protect them from themselves.

1. Where does the price of my trading vehicle have to go to prove I was wrong about my entry?

2. How much is the maximum I will lose on the trade if I am wrong?

3. What are my rules for entries?

4. How will I exit my winner to bank profits?

5. What is the current trend of the time frame I trade in?Where is my best entry point to trade in this direction? (more…)

16 Rules for Thirsty Traders

  
  Education
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I always liked these rules for their simplicity and I think they can benefit some of you, if only in the form of a gentle reminder of what you should be doing…or not doing.

1. Market direction is the most important thing in determining a stock’s
probable direction.

2. Price and Volume action are more important than a jillion indicators and
complex theories, no matter how cool they may be.

3. Don’t miss the forest (broad market) for the trees (individual stocks).

4. Don’t anticipate. Wait for confirmation.

5. Don’t trade contrary to the market’s direction.

6. Don’t try to “outsmart” the market.

7. Things can go much, MUCH further than you think they can, in either
direction.

8. Divergences work best with double tops and double bottoms.

9. Quite often, divergence analysis doesn’t work at all. When that happens, it
means the prevailing trend is very strong.

10. You need to effectively filter or limit the amount of data or charts to look
at; otherwise, you will spread yourself way too thin. You must have the time and
alertness to keep your eye on the ball…..hard to do, when you are juggling
thousands.

11. Don’t focus on every tick of each trade. If you are, you are holding on to
the handlebars too tight.

12. Have a plan. Set stops and targets. Don’t be afraid to take 1/2 profits and
raise (or lower) your stops. If your trade follows your script, great. If it
doesn’t within a reasonable time, consider getting out.

13. That said, it’s OK to give your trade a little time, unless you are clearly
wrong. You are often ahead of the market a little bit.

14. You will lose money sometimes. Every trader does. It’s a business, not a
personal indictment against you. Get over it and move on to the next trade.

15. Political opinion and markets do not mix.

16. Learn from your mistakes, or you will be condemned to repeat them.

Trading Wisdom

  
  Education
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Headinsand-How do you feel when your trading position goes against you? Do you react instinctively or do you follow a specific plan of action? Here’s what Richard Dennis has to say about this issue: “When things go bad, traders shouldn’t stick their head in the sand and just hope it gets better. You should always have a worst-case point. The only choice should be to get out quicker. The worst mistake a trader can make is to miss a major profit opportunity. 95 percent of profits come from only 5 percent of the trades.” Ignoring issues will usually carry negative consequences in the future. Have a well-researched plan and execute it with focus!

Searching For Black Money =Making Fool To 125 Billion People

  
Analysis, Education
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BLACK-MONEY
 

Those Who are having Money in Foreign Banks and taken Money (Illeagely out are more Intelligent then authorities )

In Population of 125 crore + (U Don’t have exact figure too ….What is the population of this country )…Just 627 or 1000 people ??

We are writing from Years in India only 10000+ people control 95% or more wealth + Power.

POWER + MONEY with :

* Existing + Non Existing MP + MLA = 3000+  or 4000 ?

* 100 Corporate Houses x 20 people close to each of them ? = 2000 

*100-200 BOLLYWOOD STARS + PRODUCERS  =?? (How much they earn ,How they earn ….No Logic ,No Calculation )

* 100 + Cricketers…………………..Do we need Cricketers or Bollywood people in progress of this country ?They are creating wealth for themself

* 29 states in India :Means 100 super rich people in every state connected to politicians and having power 

Above is India &  Rest is BHARAT  ,Mera Bharat Mahan………….No worry @ all.

SIMPLIFY

  
  Education
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simplifyWhen we follow a standardized process for trade execution, we help negate the impact that emotions can have on that process.  And when we create a set of rules within which is a subset of rules that allow for less mechanical, more intuitive management of our trades, we can potentially realize additional profits from those intangible insights into market direction without over-exposing our account to risk.  Here is how it works:

  S – Scan your charts .  Create a “Watch List” to help manage your inventory of trading opportunities.

I – Identify a high probability set up.    

 M – Map out the trade’s entry point, stop-loss exit point, and profit exit point. 

P – Pull the trigger.  By systematizing the process as we are talking about here, the anxiety associated with executing a trade is greatly reduced.  Instead of focusing on whatever issues keep you from pulling the trigger, your focus is on following a procedure, a set of instructions.  Mapping out and understanding exactly what our risk is also reduces the anxiety of entering a trade.    

 L – Let the market do its thing.  It’s not very often that you won’t have to take some heat on a trade.  It’s a great feeling when a trade goes in your favor immediately and stays that way.  But that’s the exception and not the rule.  As a good friend of mine would say, “Let it breathe!”  (more…)

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