Thursday, June 25, 2009

Night Cap Trading Tip

Having a night cap (Peroni Beer) in beautiful metro Detroit and wanted to drop some common sense in trading knowledge on you - but something to remember.

You do not need to be right the majority of the time when trading. You just need to be make more money on the (few) trades when you are right than the (many) trades that you will be wrong. As a a trader accept being wrong - but limit your losses and then when you are right it will more than cancel out your wrongs!

Wordy way to say cut your losers quicker than your winners. That's easy to say but harder to actually do when you have trades on - trust me... but you know it.


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