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Unknown Market Wizards: The best traders you've never heard of
Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study the general conditions and not tips or special factors affecting individual stocks. Then get out of all your
... See moreEdwin Lefevre • Reminiscences of a Stock Operator
In 1960, Donchian reduced this philosophy to what he called his “weekly trading rule.” The rule was brutally utilitarian: “When the price moves above the high of two previous calendar weeks (the optimum number of weeks varies by commodity), cover your short positions and buy. When the price breaks below the low of the two previous calendar weeks, l
... See moreMichael W. Covel • The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires
I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making
... See moreMark Douglas • Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
“I believe it is highly possible to improve your long-term results by adjusting your investment position at the extremes of the cycle. Not that often. But at the extremes.” -Marks