Article Stock and Option Millionaire Principles

T2W Bot

Staff member
1,454 55
Having been trading stocks and options in the capital markets professionally over the years, I have seen many ups and downs.

I have seen paupers become millionaires overnight?AndI have seen millionaires become paupers overnight.

One story told to me by my mentor is still etched in my mind:
?Once, there were two Wall Street stock market multi-millionaires. Both were extremely successful and decided to share their insights with others by selling their stock market forecasts in newsletters. Each charged US$10,000 for their opinions. One trader was so curious to know their views that he spent all of his $20,000 savings to buy both their opinions. His friends were naturally excited about what the two masters had to say about the stock market?s direction. When they asked their friend, he was fuming mad. Confused, they asked their friend about his anger. He said, ?One said BULLISH and the other said BEARISH!??
The point of this illustration is that it was the trader who was...
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bracke

Experienced member
1,286 12
This article may seem obvious to some and of some interest to others but I would be surprised if there are many traders who read this and do not agree strongly with what has been written.

Most, if not all people who trade will have made mistakes because they did not understand or stick to the priciples outlined in the article. Once the mistakes have been made it then becomes very obvious that the principles are essential if successful trading is to ensue. If it isn't obvious it will be costly.

Regards

bracke
 

damianoakley

Established member
542 57
Interesting article.

It's those two different opinions that creates two sides of a market and it's those same differing opinions that create discussion boards like Trade2Win.

I think the key point to take from the article is that 2 traders can have different opinions on the market and still profit - perhaps not both on that particular trade, but over the long term.


Thanks

Damian
 

FXSCALPER2

Established member
964 280
Both can profit from 'that particular trade', of course.
damianoakley said:
Interesting article.

It's those two different opinions that creates two sides of a market and it's those same differing opinions that create discussion boards like Trade2Win.

I think the key point to take from the article is that 2 traders can have different opinions on the market and still profit - perhaps not both on that particular trade, but over the long term.


Thanks

Damian
 

damianoakley

Established member
542 57
Of course, depending on their own targets, stop losses, and method relative to their individual systems.


Damian
 
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damianoakley

Established member
542 57
I think it re-inforces the fact that you have to be absolutely resolute about sticking to your trading strategy and not be swayed away fom it by the suggestions and opinions of other traders.

Too many traders abondon successful strategies because they think that there is a better more profitable system out there than the one they are trading. This thought process often occurs after their strategy has hit a losing run, as all strategies do from time to time.


Damian
 

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