Scrapbook
Re: Scrapbook
Your role as a trader is to wait for YOUR trading setup.
The big money is made by sitting on your positions — and not forcing trades out of boredom.
Jesus saves. Moses invest.
Re: Scrapbook
Quit trying to trade every level on your chart.
Instead, pick a spot to trade where you'll earn big when right and lose small when wrong.
The result?
Less trading, less commissions, less mistakes, and a fatter bottom line.
Jesus saves. Moses invest.
Re: Scrapbook
Risk management.
The difference between sleeping soundly and panicking right now.
Jesus saves. Moses invest.
Re: Scrapbook
A simple strategy has a better chance of working than a complex one. If yours isn't working, consider reducing. Not adding.
Jesus saves. Moses invest.
Re: Scrapbook
SunriseTrader
"I am a trader not an investor. As a trader my job is to manage risk, to take my piece of the pie and move along. My way not your way"
"I am a trader not an investor. As a trader my job is to manage risk, to take my piece of the pie and move along. My way not your way"
Jesus saves. Moses invest.
Re: Scrapbook
Jesse Livermore
“Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul.”
“Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul.”
Jesus saves. Moses invest.
Re: Scrapbook
Jesse Livermore
“The desire for constant action irrespective of underlying conditions is responsible for many losses on Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages. Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.”
“The desire for constant action irrespective of underlying conditions is responsible for many losses on Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages. Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.”
Jesus saves. Moses invest.
Re: Scrapbook
A trade made out of "emotions" due to a previous losing trade is almost always gonna result in a loss. "Human emotions" is why most traders get frustarted. Revenge trades, "breakeven" mentaility, doubling down, chasing, F.O.M.O trades are all trades that arise from human emotions.
Jesus saves. Moses invest.
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