Categories
Charts

Be bold with your profits

People enjoy taking profits so much. It just feels so good to lock in that gain. You feel like a genius and you can tell everyone that you made money in the stock market. This can be a bad, bad behavior. Realizing winners too early is one of the main reasons traders don’t become profitable […]

Categories
Book Reviews

Brent Penfold – The Universal Principles of Successful Trading – Review

I hadn’t come across Brent Penfold’s work until I heard him speak on a podcast. His content felt professional and was enjoyable to listen to. It felt I needed to get a hold of his book The Universal Principles of Successful Trading that was published in 2010. In the introduction Brent writes about the fact […]

Categories
Blog

All stocks are bad unless they go up in price

This is a quote from William O’Neil, a market veteran whose bestselling book I recently read. I’m going to publish a review of the book soon. But the title says it all about my approach to trading. If a stock has momentum and is going up, I want to be onboard until it lasts. I […]

Categories
Blog

I don’t take profits and losses, I exit

It is easy to get one’s mind clouded by thinking of profits and losses, money is important in our society. Amateurs often want to take profits and keep losses for obvious reasons of human nature. I think of trading being a game where I follow my entry, exit and risk management rules. The goal is […]

Categories
Charts

It is OK to be wrong, it is not OK to stay wrong

In my last post I wrote about a couple of shorts to hedge my long exposure in the market. Here I will show the charts. It’s useful to go back and review trades after a while, studying the entry and exit in the middle of the chart is a much better way to learn than […]