1. “The key to this game is finding an entry spot that is as close as possible to where you would be wrong on the trade idea.”
2. “If you are bullish when you look at a chart. Turn the chart upside down and see if you are bearish for extra confirmation. If you are, pull the trigger.”
3. “If you take profit for no reason than that you have a profit and don’t want to lose it, you are a cunt.”
4. “Why do you fucking insist on selling when the market is red? Are you some kind of cunt? You buy on red. Sell on green.”
5. “Double tops and bottoms can be very profitable opportunities if you trade them AS they form.”
6. “You’re buying just because there’s a “psychological” round number? Are you some kind of fucking cunt?”
7. “You have to act on your intuition. If you get a strong feeling about a market – even if you are not sure completely why – act on it. But know that feelings can be wrong and be quick to act if the market does not confirm your intuition.”
8. “There is no such thing as a price that is too high or a price that is too low.”
9. “You need to grow a pair of balls when your position goes onside. There is little point in calling a top or a bottom only to take a few points. You have to be able to hold a position.”
10. “If you can’t make a decision, leave your trading desk and take a break. Take a 10 minute walk around the block. Come back and sit down. Close your eyes and take a few deep breaths. Open your eyes and immediately do what you think is best. “
11. “When a price is at extremes and you want to attempt to fade it, take small positions and be prepared to act quickly to cut your losses if price does not turn. “
12. “Look for clues. The market almost always tips its hand to which way it is going. If you can’t see this, you haven’t watched it long enough.”
13. “The only technical you need are support and resistance.”
14. “If I get an easy fill at the price I want I know I’m probably fucked.”
15. “See the bigger picture. I don’t care if you are on a tick chart. Where are we on the higher timeframes? How much room do we have to move?”
16. “Get involved. You need to live and breathe your market to make money consistently. Watch it as much as you can. Time spent watching is time spent learning.”
17. “The news is fucking useless.”
18. “I don’t know how anyone can make a trading decision without knowing the fundamentals behind a trade.”
19. “One of the best trades is where the fundamentals all point to the market making a move in a particular direction and yet it begins to move counter to that. “
20. “Remember why you got in. If you are position trading a market and you are, for example, buying a considerable distance above support, then that last support is the reason for entry. Until that is invalidated, your trade reason still stands. The “market” knows or cares nothing of where your break even point or fixed trailing stop is. These two latter terms, if based on monetary concerns (not wanting to lose, wanting to protect profits) rather than based on technicals (keeping a valid s/r level between you and the price) are useless.”
21. “Make sure you don’t buy when the market is drifting towards your entry. If its not steam rolling towards you, don’t be fooled. No one makes money fading the drift of death”