Klarman on leaving room to average down.
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Trading Errors
"When you have tremendous conviction on a trade, you have to go for the jugular.
Nothing says "I love you" quite like receiving a Tyrant's Valentine card…
Hindsight Bias …
Trading is A Game of Probabilities
Mistakes -Traders Must Read
- A mistake means not following your rules. If you don’t have rules, everything you do is a mistake.
- It is much better to trade a lower-scoring SQN system that fits you than a higher-scoring SQN system that doesn’t fit you.
- You are responsible for everything that happens to you. When you understand this, you can correct your mistakes. We call this respond-ability.
- Repeating the same mistake over and over again is self-sabotage.
- A trader who makes one mistake in 10 trades is 90 percent efficient; that 10 percent drop in efficiency could be enough to make him/her a losing trader.
The NEW US Debt Clock
If you're not feeling stupid, you're not managing risk.
