Great traders have the ability to watch the market and not take action unless they can exploit their edge. This requires a detached mindset: being able to see price move without feeling like you're missing out.
Volatility doesn't imply that we always need to be on board.
Volatility doesn't imply that we always need to be on board.
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The meticulous process of trading involves:• Spotting asymmetric opportunities• Managing risk• Thinking clearly/using common sense• Accepting that outcomes are ultimately out of your handsWhen that process becomes well established in your mind, it becomes a way of life.
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#Rule No.1 : Time is your friend, impluse is your enemy.
Don’t give up on trading.
It is a difficult skill to acquire.
It will require years of trials and errors before you get good at it.
But once acquired, that skill will allow you to compound your money for the rest of your life like nothing else can.
Don’t give up on trading.
It is a difficult skill to acquire.
It will require years of trials and errors before you get good at it.
But once acquired, that skill will allow you to compound your money for the rest of your life like nothing else can.
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The most important rule is to play great defense, not great offense. Everyday I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum drawdown. Hopefully, I spend the rest of the day enjoying positions that are going in my direction. If they are going against me, then I have a game plan for getting out. - Paul Tudor Jones
$PAVmed (PAVM.US)$Indicator looking good. should be able to pass resistance.
Risk comes from not knowing what you're doing.
As a trader, you need to know the exact risk of every trade before you take it.
Quantify the risk. Manage it.
And make sure you know what you are doing.
As a trader, you need to know the exact risk of every trade before you take it.
Quantify the risk. Manage it.
And make sure you know what you are doing.
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