Announcement

Collapse
No announcement yet.

"Comments From a Market Wizard & Coach"

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • "Comments From a Market Wizard & Coach"


    Comments from a Market Wizard and Coach
    Several years back I spent a few weeks with one of the “Market Wizards” and thought you would find my notes and his interesting and helpful.
    You may have heard some before, but review is a good.
    So I will be posting several of these, here is the first, enjoy.

    Related to trading
    • A major goal of trading is always consistency
    • The Pro’s will fleece you in the market
    • Set sights on taking your profits > Lock it in > Lock in goal > Use Stops
    • Develop a ritual based on a “time” factor
    • The longer you wait for a trade to materialize the lower your probability of hitting your target – KNOW the average length of time for your winning trade (will differ with market and strategy)
    • Until things change DON’T go ahead of the curve
    • Create an Upward spiral, avoid going down
    • Determine a 2.7% x $ amount as a max draw-down
    • S&P is a 10 speed – must adjust to the speed of your mind
    • Never let a profitable trade turn to a losing one
    Mental Aspects
    • Don’t hide from a weakness – must attack and subdue it
    • Look at markets accordingly – be real and honest
    • Don’t let greed guide your trade
    • It’s fine to be wrong on a trade, BUT admit to it, and do something
    • You are never more objective as you are BEFORE your trade
    Management
    • Rule – Look at risk 1st BEFORE you take a trade
    • Write down what you think it’s going to do, no pre-conceived notions
    • The market is what it is
    • Always have a pre-determined PLAN before your entry
    • Traders get purged in all markets based on time frames
    • Take what the market affords you - ONLY
    • Write down as fast as you can what you think your priority list is – adjust where needed
    • More to look at is not always better
    • Develop your daily trading ritual, before you enter a trade

    Great Quotes:
    “Great basketball players shoot.” – Larry Bird
    ************************************************** **************************
    New TAS – 30 Day Series starts soon, Mention AMP and receive a credit of $850 towards admission. But must call to qualify. Always dedicated to increasing results. 702-616-3744, or email with questions- [email protected] Visit: www.RobinDayne.com lots of FREE videos in "media".

    Quote from recent TAS Graduate: “I’ve been trading for over 10 years. Have searched for the “perfect strategy” over and over. I know a lot but couldn’t get things to work. Robin didn’t try to change what I know, but what she did, was remove the emotional block I developed which straightened out my thinking and put clarity to what I already knew. And we worked through each problem I had. She is always there for you for 30-DAYS and we worked until things came together. I don’t know ANYONE in the business that takes this much time to help. The 30-Day was worth its weight in gold. A must for those not getting results, truly.” - Tom, TX.


Disclaimer: There is a risk of loss in trading futures, forex and options. Futures, forex and options trading are not appropriate for all investors. Only risk capital should be used when trading futures. All information is for educational use only and is not investment advice. Past performance is not indicative of future results.

This website is hosted and operated by AMP Global Clearing, LLC ("AMP"), which provides brokerage services to traders of futures and foreign exchange products. This website is intended for customer support, educational and informational purposes only and should NOT be viewed as a solicitation or recommendation of any product, service or trading strategy. No offer or solicitation to buy or sell derivative or futures products of any kind, or any type of trading or investment advice, recommendation or strategy, is made, given, or in any manner endorsed by AMP and the information made available on this Web site is NOT an offer or solicitation of any kind. The content and opinions expressed on this website are those of the authors and do not necessarily reflect the official policy or position of AMP.

All Users and Contributors along with their websites, products and services, are independent persons or companies that are in no manner affiliated with AMP. AMP is not responsible for, do not approve, recommend or endorse any User and/or Contributor Content referenced on this website and it’s your sole responsibility to evaluate All Content. Please be aware that any performance information provided by a user and/or contributor should be considered hypothetical.

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

AMP has NOT endorsed or recommended the use any product, services offered by any 3rd party User or Contributor on this forum. No person employed by, or associated with, AMP is authorized to provide any information about any 3rd party User or Contributor content. All specific brokerage related questions should be directed towards AMP.

Copyright © 2017. All rights reserved.

Working...
X