Never Lose Again
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- TheRumpledOne
- rank: 10000+ posts
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- Real name: Avery T. Horton, Jr.
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Hello, I am not too bright, some what of a dimwit and I don't take the time to read and you need to answer my questions to my satisfaction no matter if they have been answered before or how stupid my questions are otherwise you suck at teaching.
Should I enter a reverse trade when price is at the long trigger?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
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- TheRumpledOne
- rank: 10000+ posts
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- Joined: Sun May 14, 2006 9:31 pm
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- TheRumpledOne
- rank: 10000+ posts
- Posts: 15558
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3035
- Location: Oregon
- Real name: Avery T. Horton, Jr.
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- Contact:
THE NEW MARKET WIZARDS
CONVERSATIONS WITH
AMERICA'S TOP TRADERS
JACK D. SCHWAGER
P-174
4. IT IS ABSOLUTELY NECESSARY TO HAVE AN EDGE
You can't win without an edge, even with the world's greatest discipline and money management skills. If
you could, then it would be possible to win at roulette (over the long run) using perfect discipline and risk
control. Of course, that is an impossible task because of the laws of probability. If you don't have an edge, all
that money management and discipline will do for you is to guarantee that you will gradually bleed to death.
Incidentally, if you don't know what your edge is, you don't have one.
5. DERIVE A METHOD
To have an edge, you must have a method. The type of method is irrelevant. Some of the supertraders
are pure fundamentalists; some are pure technicians; and some are hybrids. Even within each group, there
are tremendous variations. For example, within the group of technicians, there are tape readers (or their
modem-day equivalent-screen watchers), chartists, mechanical system traders, EIliott Wave analysts, Gann
analysts, and so on. The type of method is not important, but having one is critical-and, of course, the
method must have an edge.
CONVERSATIONS WITH
AMERICA'S TOP TRADERS
JACK D. SCHWAGER
P-174
4. IT IS ABSOLUTELY NECESSARY TO HAVE AN EDGE
You can't win without an edge, even with the world's greatest discipline and money management skills. If
you could, then it would be possible to win at roulette (over the long run) using perfect discipline and risk
control. Of course, that is an impossible task because of the laws of probability. If you don't have an edge, all
that money management and discipline will do for you is to guarantee that you will gradually bleed to death.
Incidentally, if you don't know what your edge is, you don't have one.
5. DERIVE A METHOD
To have an edge, you must have a method. The type of method is irrelevant. Some of the supertraders
are pure fundamentalists; some are pure technicians; and some are hybrids. Even within each group, there
are tremendous variations. For example, within the group of technicians, there are tape readers (or their
modem-day equivalent-screen watchers), chartists, mechanical system traders, EIliott Wave analysts, Gann
analysts, and so on. The type of method is not important, but having one is critical-and, of course, the
method must have an edge.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15558
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3035
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
- razorboy
- rank: 500+ posts
- Posts: 627
- Joined: Tue Oct 21, 2008 2:06 am
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- Location: Toronto
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inverted bodies..............................or shall we say bodiless wicks...........
TheRumpledOne wrote:
Can you guess what this is?
HINT: What don't you see?
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!
http://thejoshkerbelproject.com/
http://thejoshkerbelproject.com/
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