follow-friday

 

 

 

 

:  Trade Like a Casino: Find Your Edge, Manage Risk, and Win Like the House (Wiley Trading) If we are properly managing the risk and adhering to a positive expectancy model, the act of trading a position should be boring.” – Richard Weissman

 Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets Trend followers are the group of technical traders who use reactive technical analysis. Instead of trying to predict a market direction, their strategy is to react to the market’s movements whenever they occur. This enables them to focus on the market’s actual moves and not get emotionally involved with trying to predict direction or duration.” – Michael Covel

Market Wizards, Updated: Interviews With Top Traders “The most important rule of trading is to play great defense, not great offense.” & “Don’t focus on making money; focus on protecting what you have.” – Market Wizards

Unholy Grails – A New Road to Wealth  “Accept that you cannot predict the future, that you can’t time the market and also accept that you cannot control the market. However, you can control how much you win when you win and how much you are willing to lose when you lose. In other words, you can control the win/loss ratio, but not the winning percentage.” – Nick Radge

Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market
“My basic philosophy is: Expose your portfolio to the best stocks the market has to offer and cut your losses very quickly when you’re wrong. That one sentence essentially describes my strategy.” – Mark Minervini. Trade Like A Stock Market Wizard is an extended explication of what that actually means.

Panic-Proof Investing: Lessons in Profitable Investing from a Market WizardI have observed many successful investors, and they all seem to have three things in place. First, they have a strategy of some sort that gets them into and out of an investment. Second, they have risk or money management concepts that preserve their assets when the investments don’t work out the way they thought they would. Third, and most important, they have a good understanding of themselves, and they have structured their investments to suit their situation, resources, and personality” – Tom Basso

: Come Into My Trading Room: A Complete Guide to Trading “You enter a trade, three factors must be crystal clear in your mind-where to get in, where to take profits, and where to bail out in case of an emergency. Daydreaming about profits will not make you rich. You must decide in advance where you’ll take your winnings off the table or cut and run if the market turns against you” – Alexander Elder

:  Trade Your Way to Financial Freedom Most successful speculators have success rates of 35 to 50 percent. They are not successful because they predict prices well. They are successful because the size of their profitable trades far exceeds the size of their losses. This requires tremendous internal control.” – Van Tharp

Antifragile: Things That Gain from Disorder Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better. Anything that has more upside than downside from random events (or certain shocks) is antifragile; the reverse is fragile.” – N.N. Taleb

 The Modern Trader: Wall Street Traders Reveal Their Formula for Success  Trading with a bias will always get you in trouble, because you are not letting the price action dictate your trades.” – Modern Trader