Before William O’Neil and Nicolas Darvas there was Jesse Livermore. Livermore was considered to be one of the greatest traders to ever live. He is said to have made over $100 million shorting the 1929 crash, an unthinkable amount in his time. He made and lost millions on several occasions, he was a master of …
In trading, money is simply made by making more money when you are on the right side of the trade than you lost when you were on the wrong side. That is rarely understood. Even many of the best traders in the world only win 50% of the time or less. In baseball the pitching …
Traders love to feel like they are a genius after a winning trade. Unfortunately, you did not win because you were so clever, you won because the market let you. Trend traders are not geniuses when they are up 10% in a month when the market was down 10%. The market was simply conducive to …
If you can’t take the heat get out of the kitchen. This familiar saying applies to trading. While you are reading about trading in books and online you will feel a sense of confidence grow. You will study charts and they will look so obvious, of course, there is the support, the resistance, and the …