Going down with the ship ...

Discussion in 'Trading' started by aphexcoil, Oct 25, 2002.

  1. dottom

    dottom

    Out of all the cute trading axioms I've heard, the most truthful is, "The trend is your friend"

    I don't quite agree, as many counter-trend strategies are the highest probability ones I have b/c everyone is "waiting" for the correction. Also, the beginning of a new trend is the hardest to identify but also often the easiest to trade due to the impulsive moves that initiates a trend.

    I prefer "The trend is your friend except at the ends."

    and the biggest lie is "Nobody ever went broke taking profits."

    I think this is relative to your risk. Many scalpers and very short-term traders at prop firms are making a nice living taking small profits.
     
    #141     Oct 28, 2002
  2. RAY

    RAY

    Wrong.
     
    #142     Oct 28, 2002