http://www.amazon.com/Stock-
AWESOME READ! and will get you in the mind of some of the best trading minds around. One interview that stands out and i read it almost 7-8 years ago by Mark Minervi:
I quote:
Mark Minvervi: " I hope i don't get a good fill."
Interviewer: "come again?"
Mark Minervi: "a good fill is a death blow. The average investor who puts in a buy order when the market is at 27 is thrilled if he gets a fill at 26.75. I would just turn around and get out of the position. Stocks that ready to blast off are usually very difficult to buy without pushing the market higher. If i put in an order for ten thousand at 27 and the floor comes to me and says, 'we can only do three thousand at 27. The market is at 27.25. What do you want to do?' It reinforces my belief that the timing of the trade is right".
Think about what Mark Minervi just said in this interview guys!!!
and now go back and think about the BEST trades we did here at the ART OF TRADING. The best trades do NOT give you a chance to in, very rarely at least. I can think right off the bat of the TNA trade we did on friday. As soon as order is filled, it ran like crazy, even if you missed it by 20-30 cents, it was enough to see it run another $1.5!
The best trades WORK RIGHT AWAY! Check it out: it's RULE number TWO on my website: artoftrading.net
A GOOD Trader WILL: 1. Always wait for the setup: No Setup-NO Trade. 2.Knows that THE BEST trades work almost right away. 3.Never takes a big loss. If it doesn't 'feel' right. Remove it! 4.Always perfecting his craft 5.Is patient with winning trades:Impatient with trades that fight back. 6.Knows that DISCIPLINE is the key to winning at everything! 7.Never gets emotionally attached to trades, trading, losses or profits. 8.Will always trade with the size that makes him unemotional.
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