Thursday, November 21, 2013

I overheard the following: One of the traders was telling another his 'opinion' of the cpo futures market, "If you go shot and go away for holiday, when you come back you can cover at huge profits below 2300"

Now what sort of risk parameters govern such an ego based strategy? Stop loss of 100, 200, 300 ticks???

This is why opinions are a fool's game. You should never ask someone else's opinion on the direction of the market, nor should you offer your own opinion to anyone else."

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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

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From Dragons and Bulls by Stanley Kroll
Introduction 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
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
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system