TraderT
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- Status:
- Member
- Last Online:
- Invisible
- Using Local Time:
- Invisible
- Joined Forex Factory:
- Aug 2009
Input by TraderT
About
- Trading From:
- Singapore, Singapore (map)
- Age:
- Trading Involvement:
- Aspiring Professional Trader
- Trading Style(s):
- Technical Analyst
- Markets Traded:
- Forex
- Contracts Traded:
- Spot, CFDs
- Coding Proficiency:
- Other
- Preferred Broker:
- OANDA (profile)
- Favorite Trading Book:
- Market Wizards, Art of the trade (Amazon)
- Favorite Trading Quote:
- "Ed Seykota and Paul Tudor Jones"
- Biography:
- It's much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies. - William Eckhardt
Paul Tudor Jones:
Don't focus on making money; focus on protecting what you have.
Don't ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don't have control. For example, I don't risk significant amounts of money in front of key reports, since that is gambling, not trading.
If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. There is nothing better than a fresh start.
The most important rule of trading is to play great defense, not great offense.
Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do so, you are dead.
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