Words of Wisdom

I have been thinking about a topic for a thread which would benefit most traders.

I am thinking anecdotal stories, trading tips, and any of various financial tips would be good.


To start I would say "Market turns take a proportional amount of time in all timeframes."

Of course no trading rules are ALWAYS correct. A market shock for instance happens as suggested in a shocklike rapid manner. Whereas most turns test boundaries several times before changing direction. This amount of time depends on the analyzed timeframe. 1 minute, 5 min, 15 min, 1 hour, 4 hour, daily, and weekly.
The point is it is easy to get faked out, shaken, and bucked out of a good trade even when right if one forgets that market turns take time.

Any other words of wisdom are welcome.

Good Trading

 

basically, early bird catches the worm. i've seen "wrong" people make more than "right people" just cos they are quicker.

 

The market usually moves farther than one anticipates.


Corollary: Don't be too quick to take profits.

 

There are 3 types of traders in this world:

1. Those who watch things happen,

2. Those who make things happen,

3. And those who say "WHAT THE $&%# JUST HAPPENED?"

 

Fed Speak ala FOMC qualifies as market shock. Witness today's trading @ 2pm.


Good Luck

 

buy 'em you can... not when you have too...

 

"nothing is ever what it seems"

 

buy low, sell high.

 

Don't ever think that it can't get any worse, it will.

 

Ever get "that sinking feeling" while in a position?

Trust it. Fast.