I have just finished the book, Trend Following, 5th Edition (2017): How to Make a Fortune in Bull, Bear and Black Swan Markets by Michael W. Covel. I think the first edition came out somewhere around 2004 but has been revised and extended again now with up-to-date content. First, I want to say I started […]
Author: Markus
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The best loser is the long-term winner
Winning is easy, losing is hard. In school and sports we are taught to be winners. In trading we need to learn to lose. Amateurs like to take quick profits cause it feels good, they hold on to losing positions cause having it on paper doesn’t feel as bad as actually taking it. Pros do […]
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Better System Trader Podcast Review
Better System Trader Podcast is founded by Andrew Swanscott, a systematic trader in Melbourne, Australia. He interviews traders from different backgrounds and approaches to markets. I have recently finished listening to all of the 164 episodes. In August last year, I started to notice my trading style had been evolving from discretionary into more systematic. Basically, […]
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Focus on process, not results
Amateurs are looking for the next winning trade, pros know that trading is a long-term process of cutting losers and adding to winners. Market behavior is too random to predict the outcome of your next trade. Therefore, focus on things you can control and that is process, not results. There are few simple stats I […]
Nick Radge is a trader from Australia with 35 years of experience. He’s been featured on many podcasts and I have studied his materials. Successful Stock Trading is an e-book published in 2012. Some of the things I have learned from Nick: Higher avg. win/loss ratio is more important than win rate. This can be […]