Never risk more than 1% of your total equity in any one trade.
By risking 1%, I am indifferent to any individual trade.
Keeping your risk small and constant is absolutely critical.
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Assimilate into your very bones a set of trading rules that works for you.
- Linda Bradford Raschke
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Linda Bradford Raschke on Rules ...
It's not about being right or wrong, rather, it's about how much money you make when you’re right and how much you don’t lose when you’re wrong.
– George Soros
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The best investors talk about being keenly aware of what they know and don’t know. Mediocre or dishonest investors pretend they know. Bad investors don’t even know they don’t know.
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I think to be in the upper echelon of successful traders requires an innate skill, a gift. It’s just like being a great violinist. But to be a competent trader ...
... if you cannot accept that losses will occur, then you cannot accept a good trading system that will make a lot of money in the long run but might ...
The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money ...
Accept both your profits and regrets. It is best to seize what comes to hand when it comes, and not expect that your good fortune and the favorable circumstances will ...
When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more ...