4 Lessons Learned from 30 Years of Trading

I will add - know yourself. Are you a trend or breakout trader, or are you a counter trend trader? I don't think you can be both.

 

".... during my twenty-two year career at Charles Schwab,..."

As they say - those who can't, teach.

 

You can do both.
In a bull trend, you buy low and sell high to lock the profit whereas in a bear trend, you sell high and buy low to lock the profit. The strategy is called spread trading.

 

How can you have "traded for 47 years" and make such a claim? That's one of the most stupid things I've ever heard.... maybe that depends upon your definition of "can make money". ?? (Sort of like, "can make money playing the lotto".)

Nothing has changed in the last 10 years to make your assertion valid.

 

Seems like advice only for the absolute inexperienced investor. Surely if the intended audience for his little article had been ET traders, he'd have said something a sight more interesting.

 

The guy was a Charles Schwab.. nobody was trading there so his advice is useless unless it is about how to go out and get more buy and hold shitzipper accounts.