Wednesday, January 9, 2008

Top Trader Alan Farley Says:

"Don't think that trading is fun. The trading game should be boring the vast majority of the time, just like the real-life job you have right now."

Don't try to get even.
This isn't a game of catch-up. Every action you make has to stand on its own merits. Take your losses with detachment and make your next trade with absolute discipline.

Don't ignore the warning signs.
Big losses rarely come without warning. Don't wait for a lifeboat before you abandon a sinking ship.

Don't ignore your intuition.
Listen to that calm little voice that tells you what to do and what to avoid. That's the voice of the winner trying to get into your thick head.

Don't project your personal life onto your trading.
Trading gives you the perfect opportunity to find out just how messed up your life really is. Get your own house in order before you play the financial markets.



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