Quotes from the Good & the Great of Trading

[TheBramble]

Even with the best signals, if the instrumentdoesn't have a history of reasonable volatility and adherence to signals - what's the point?

 

[TheBramble]

You don't HAVE TO go into any trade.

 

[TheBramble]

The good trades jump out at you.

 

[TheBramble]

Review models/systems/methods for signals with a sense of haughty disbelief (dazzle me!) AND with a relaxed expectation of learning something new.

 

[TheBramble]

First Loss is your Best Loss.





before anyone suggests that this is culled from elsewhere - yes it is - AND- - it's also a heartfelt absolute from me. Take the loss and enoy the trade. Knowing when it's wrong is a key part of the craft.

 

[TheBramble]

Follow the trend!!!




Please, please, please...It's really not that hard.

 

[TheBramble]

Don't Trade in the first half-hour - are you sure, REALLY sure???




There are some that will specialise in this area - are you REALLY one of them?

 

[TheBramble]

Only go in if its moving in your direction.






you think I'm taking the ****??? No, I'm not. You'd be surprised.

 

[TheBramble]

Come out when you hit your S/L.





No, seriously. Please. If you've been smart enough to claculate a S/L - use it. It confirms just how smart you are. But only if you actually use it.

 

[TheBramble]

Come out if it fails to perform within your chosen timeframe.

Having a stoploss and target is great. But if nothing develops within a period of time commensurate with your trading timeframe….what’s the point?

 

[rathcoole_exile]

Tony, looks like the first couple of Chapters of your book are coming along nicely

 

[superfly]

Step 1 of money and risk management

Consider placing a 1% stop loss on all trades

Thank you Bramble for many splendid posts:

On the starting steps for risk management, the following:
-1: religously analyse the risks of your strategy in your niche/timeframe
-2: formulate approriate risk tollerances levels for instance: stop loss of
xx.xx% on a trade
-3: religously keep actions within tollerance
-4: refine

In real live Im a risk manager and from that experience I know that without step 1 (first) your bound to be toast sooner or later. Successful protection should be based on a good risk analysis –No uniform answers

 

[Black Swan]

Come out if it fails to perform within your chosen timeframe.

Having a stoploss and target is great. But if nothing develops within a period of time commensurate with your trading timeframe….what’s the point?

what are we saying here Tony, if you're working 'off a' 15 min TF and nothing happens in 15 mins get the fook out of Dodge?

 

[superfly]

Scaling into profitable positions increases risk if you don't pick the right execution levels. The best plan is to wait for the position to clear an obvious barrier before adding to it. Then move in your stop to protect your growing profits.

Alan Farely

 

[superfly]

I didn't have a following. I kept my business to myself. It
was a one-man business, anyhow. It was my head, wasn't it?
Prices either were going the way I doped them out, without any
help from friends or partners, or they were going the other way,
and nobody could stop them out of kindness to me. I couldn't see
where I needed to tell my business to anybody else. I've got
friends, of course, but my business has always been the same --
a one-man affair. That is why I have always played a lone hand.