Hey Madisondad
If you don't mind me asking, what's you top 5 lessons you had learn from your experience and what changes did these lead to.
Thx
LJS
Response:
Hey Madisondad
If you don't mind me asking, what's you top 5 lessons you had learn from your experience and what changes did these lead to.
Thx
LJS
I don't mind at all SprintLJS, that’s a fantastic question! I would have to say the top five lessons and the changes they led to were:
1. The markets are
not random. - They operate on cycles just like everything else. Once you learn those cycles, you increase your performance. (Hint:
http://en.wikipedia.org/wiki/Algorithmic_trading)
2. Hammers don't work when a screwdriver is needed! – Most of the trading tools on the market don’t provide “actionable” intel and tend to keep traders entrenched in outmoded strategies.
3. Early to bed, early to rise makes a trader wealthy and wise! - More often than not, the futures market is more active and functions “as designed” during the very early hours of the morning well
before most traders start their first cup of coffee.
4. Learn to play poker. – The concepts are parallel. Learn when and how to fold, it’s a critical skill if you want to live to trade another day.
5. Forecasts and predictions are similar, but totally different. – Predictions are forecasts
without calculations, which in this line of business is a recipe for disaster! Seek out information sources that provide forecasts based on good science, not some guru’s gut.
Hope that helps chief, happy hunting!!