MoneyTec Traders Community Forum - View Single Post

honeyeater · 24-02-2006, 04:52

Hey Guys,

Never bet the farm when you are trading!!!!!!!

Your trade (no matter how well you think things are going your way) must always be within your set risk management strategy. If you are not sure what your strategy should be, then start by reading Van Tharp.

Remember to trade as though you NEVER know what is going to happen next, but that the only thing you are able to ascertain specifically, is how much you can lose. Only the market will determine how much profit your strategy will deliver. Only you will determine how much you can lose.

The minute we presume to know what the market will be doing next is the occassion we invite the market to deliver a salutary lesson, in it's time and not ours.

If this doen't make sense, betting the farm will continue the lesson at a later date, but that will be too late.

"Your challenges are simply the manifestation of your so-called invisible limiting beliefs"

"The snow falls, each flake in it's appropriate place."

24-02-2006, 04:52	#33
honeyeater level 1 Join Date: Jul 2004 Posts: 30 Downloads: 0 Uploads: 0 Rep Power: 0	Re: Am I just lucky or on to something? Hey Guys, Never bet the farm when you are trading!!!!!!! Your trade (no matter how well you think things are going your way) must always be within your set risk management strategy. If you are not sure what your strategy should be, then start by reading Van Tharp. Remember to trade as though you NEVER know what is going to happen next, but that the only thing you are able to ascertain specifically, is how much you can lose. Only the market will determine how much profit your strategy will deliver. Only you will determine how much you can lose. The minute we presume to know what the market will be doing next is the occassion we invite the market to deliver a salutary lesson, in it's time and not ours. If this doen't make sense, betting the farm will continue the lesson at a later date, but that will be too late. "Your challenges are simply the manifestation of your so-called invisible limiting beliefs" "The snow falls, each flake in it's appropriate place."