Trading cliches and BS...

shadowninja

shadowninja

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I thought we could start a thread that lists trading cliches that are either true or bull****. Don't discuss their validity here; I will then set up separate threads so we can discuss each one in turn.

Here's some to start with:

"The trend is your friend."

"Do the opposite of what everyone else is doing."

"Preserve your capital first."

"Cut your losses; let your winners run."

"Don't trade the news."

"Enter in mild times, exit in wild times."

"Buy the rumour, sell the news."

What have I missed and which ones would you like to discuss later?
 
I think this "Cut your losses; let your winners run."

Should be "Cut your losses early; let your winners run."

UNLESS, that is one that I've never heard of....in which case, add:

"Cut your losses early; let your winners run."
 
The market is a random walk.

When your postman, the folks at work, and the chap behind the bar are all talking about buying, get out of the market.

It can't possibly go any lower.

In the long run, the stock market will always go up.

Trend is not the same thing as momentum, and momentum is not the same thing as trend.

Systems work. It's people who don't.

The most difficult aspect of trading to manage is managing yourself.

Be wary of the man who urges an action in which he himself incurs no risk.

No one ever got poor buying and holding.

Two thirds of professional investors fail to beat the market average.

If you fail to plan you plan to fail.

Trends continue.
 
go on then, shadow - i'll stir the pot :cheesy:

I think the "buy low, sell high and sell high, buy low" cliche is one that sets many on the road to ruin since it encourages them all to engage in the highly dangerous sport of reversal hunting.

I much prefer buy high(ish), sell higher and sell low(ish), buy lower since that at least encourages people to go with the trend.

good trading

jon
 
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I like pizza with anchovies, although at the moment prawns have become my favourite addition.
 
Just state the cliche on this thread. I'll pick some more for part 2.

So much for traders and self-discipline!!
 
Newb cliche:

"It brought it because it had gone down that far it just HAS to go back up"

Recently heard from
My boss - went long $100K of $12 FNM & FRE
Another Colleague - undisclosed amount of oil longs at $90 !
 
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