Archive for October, 2011
Today was one of those days where I had a fabulous trade but didn't stick to the plan. I had looked at the market and had put in an order to sell with a stop and a limit order and then that should have been it, I should have left it.
Here's what happened..
This was the DOW and I saw weakness in the market and had set an order to sell at 12120 which was a break below short term support. I had a target at 11940 which would have been a 180 target. However, I couldn't help myself
October 31, 2011
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This is the fascinating 1987 documentary called Trader which features the legendary trader Paul Tudor Jones. I have been looking for this video for a while so when a friend of mine sent it into my inbox, I watched it straight away. I heard that Paul Tudor Jones himself was doing what he could to remove this video as it revealed a bit too much of his method so I don't know how long this video will be around but for now, enjoy it whilst you can.
http://vimeo.com/9881971
October 31, 2011
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What I mean by this is people who give you a tip to buy or sell something. It may work out (afterall, there's a 50% chance it will go up or down so there's half a chance you may make money) but in the long term you will lose money!
Why do I say this? I say this because as a trader or investor you need to be responsible for your own trading decisions. Should you lose, it's too easy to blame someone else for the loss. Psychologically, you've given yourself a way out and not taken responsibili
October 28, 2011
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