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MARKET WISDOM

A list of golden sayings and rules I have gleaned from many sources:
wisdom-thought

  • Plan your trades, trade your plan.
  • Trade Quality, Not Quantity.
  • Keep it simple.
  • Don’t look for a reason to enter the market, look for a reason NOT to enter.
  • Don’t act due to “Newbie Nerves”
  • Don’t make up a trade. If you have to look, it isn’t there.
  • Never play with scared money.
  • You are not the market.
  • Buy dips in an uptrend, sell rallies in a downtrend.
  • Do not try to pick tops and bottoms.
  • It is only divergence if it came off a retracement – not a sideways market.
  • Indicators warn, price action confirms.
  • Divergence is early, cross-overs are late.
  • You cannot expect your positions to go immediately into the money.
  • Divergence means a detour, but not necessarily a new trend.
  • No-one knows what will happen in the markets.
  • Standing aside is a position.
  • Subordinate your will to the will of the market.
  • Large ranges beget small ranges, small ranges beget large ranges.
  • Once a thing is set in motion, it tends to stay in motion.
  • Sniper-rifle, not a shotgun.
  • Cut your losses short, let your profits run.
  • Only move stops in the direction of your position.
  • Do not let a winner turn into a loser.
  • Never add to a losing position.
  • Forget losses quickly. Forget profits even quicker.
  • Consistent behavior equals consistent results.

There are probably more, send ’em in…