Quality education has died and so we have forgotten the teachings of the true "geniuses" that came before us
"A society that puts equality—in the sense of equality of outcome—ahead of freedom will end up with neither equality nor freedom. The use of force to achieve equality
will destroy freedom, and the force, introduced for good purposes, will end up in the hands of people who use it to promote their own interests
On the other hand, a society that puts freedom first will, as a happy by-product, end up with both greater freedom and greater equality
Though a by-product of freedom, greater equality is not an accident. A free society releases the energies and abilities of people to pursue their own objectives. It prevents some people from arbitrarily suppressing others. It does not prevent some people from achieving positions
of privilege, but so long as freedom is maintained, it prevents those positions of privilege from becoming institutionalized; they are subject to continued attack by other able, ambitious people."
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Of course, there are rules that will help you sharpen things up and rules that will help eliminate some bad entries as well. But, we are doing the simplified look for now
Avoid big losses at all costs. The higher your % loss, the higher the % gain you need to get your money back. A 50% loss you needs a 100% gain to break even
Control Risk
Know your exit criteria before you enter a trade.
Exit as soon as the reason for your entry is not valid anymore
Liquid Assets
Liquid assets are easier to exit. As a matter of fact technical analysis is more reliable w/ highly liquid assets. Large volume makes it much more difficult to manipulate an asset
Buy Strong Assets Short Weak Assets
A strong asset has less overhead resistance & better "flow"
Just The Charts
Trading for a living requires different skills. Everything you need to know is right there in front of you. If you can’t see it, it probably isn’t there.
1. Self-Reliance. A man must think for himself, must follow his own convictions
“A man cannot have another
man’s ideas any more than he can another man’s soul or another man’s body”
Self-trust is the foundation of successful effort
2. Judgment. The ability to adjust ones faculties, which is called good judgment, is an essential to the speculator
3. Courage. That is, confidence to act on the decisions of the mind. In speculation there is value in Mirabeau’s dictum: “Be bold, still be bold; always be bold”
4. Prudence. The power of measuring the danger, together with a certain alertness and watchfulness, is very important.
There should be a balance of these two, Prudence and Courage;