Monday, September 24, 2012

When the market makes a huge move such as in the fcpo futures today, many longs were caught off balance... the temptation would be to continue to add to the 'gamble' by averaging or 'holding on and hope the market comes back'.... It is good to remember to read this "Don't lose your shirt" (
"The 2% rule will protect you from being eaten by the sharks, while the 6% rule will protect you from the piranha frenzy" Dr Alexander Elder

Most Locals are gamblers. The 66 who remaining are very good (or lucky) gamblers. In fact I think the majority of the 40,000 accounts are losing ones, due to the gambling nature of the markets. As are the 62 inactive Local Participant accounts.


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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil


From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system