- Concentrate, focus, know yourself and your limits.
- Keep things simple.
- Go with the flow.
- Take profits when you'd be crazy not to.
- Press your advantage to an almost reckless level when you are in sync.
- There is no limit to where prices can go. Up, Down or bounce. Think 1000 point days on the Dow.
- Cut losers ultra fast.
- Pare your plays down to 2 or 3 at a time and trade big size.
- Momentum is king, fundamentals are meaningless, technical levels are of little use.
In times like these, more money will fly into your account than years trading a grinding market. Don't think you are smarter than the market if you are wildly successful - it is just the conditions that making it appear so. Be humble and give something back to those less fortunate than you.
Happy trading.
3 comments:
good point to go over the older posts since i'm not used to seeing these crazy moves.
good point to review the '08 entries because i have never traded a market like the moves we are seeing lately. thanks
Speaking of going over your past moves. I've mentioned before that I've read every chart post on FNG twice, and studying them while looking. Then I scanned many for a third time. I have now subscribed to a charting srvice that offers intra-day historical chart data specifically so I can go through your old posts and see your entries, stops, and exits in context; where they were in relation to longer-term trend and S/R areas. It's slow because this new service is tedious and unfamiliar to use, but offers great detail.
Thanks for leaving up your site for those who want to use it as a reference library. Enjoyed the pics at H+S.
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