25 Trading Mantras

Seeing an opportunity and acting upon it are two different things.

•  Price has memory. Odds are what price did the last time it hit a certain level will be repeated  . . . (BR:  Until support or resistance fails).

•  Pay attention to price action, regardless of what the charts are saying.

•  Look for a reversal at the same place you’re expecting a breakout or breakdown.

•  Price action sets up against the majority; the best profits are often in the opposite direction of the way you’re planning to go.

• Add to your winners and cut your losers. ’nuff said.

•  Opportunities come along all of the time. Wait for the best ones.

•  Don’t overly anticipate or see things that aren’t there. Wait for your signals. (more…)

25 Trading Truths

Seeing an opportunity and acting upon it are two different things.
•  Price has memory. Odds are what price did the last time it hit a certain level will be repeated  . . .
•  Pay attention to price action, regardless of what the charts are saying.
•  Look for a reversal at the same place you’re expecting a breakout or breakdown.
•  Price action sets up against the majority; the best profits are often in the opposite direction of the way you’re planning to go.
• Add to your winners and cut your losers. ’nuff said.
•  Opportunities come along all of the time. Wait for the best ones.
•  Don’t overly anticipate or see things that aren’t there. Wait for your signals.
•  The day isn’t over until the closing bell ring. The way it ends may be vastly different from how it begins.
•  Your first job isn’t to make money. It’s to protect capital.
•  Don’t rush to buy the lowest price or sell the highest price; It could get much lower or much higher before turning around. (more…)

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