Trading Advise from Richard Dennis who turned a $400 trading account into $200 million.
1. Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.
2. A good trend following system will keep you in the market until there is evidence that the trend has changed.
3. When you have a position, you put it on for a reason, and you’ve got to keep it until the reason no longer exists.
4. You should expect the unexpected in this business; expect the extreme. Don’t think in terms of boundaries that limit what the market might do.
5. Trading decisions should be made as unemotionally as possible.
6. Trade small because that’s when you are as bad as you are ever going to be. Learn from your mistakes.
1. Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.
2. A good trend following system will keep you in the market until there is evidence that the trend has changed.
3. When you have a position, you put it on for a reason, and you’ve got to keep it until the reason no longer exists.
4. You should expect the unexpected in this business; expect the extreme. Don’t think in terms of boundaries that limit what the market might do.
5. Trading decisions should be made as unemotionally as possible.
6. Trade small because that’s when you are as bad as you are ever going to be. Learn from your mistakes.