Friday tips

This is so true. There are some times in the market when its just best to wait and do nothing

Paul Tudor Jones: Losers average losers

This means when you are losing or having a bad day in the market its not a good idea to keep opening bigger trades hoping the gains will make up for the losses you made earlier.

Another of my favorite quotes.

Even in an upward trend you still have pullbacks meaning little downward movement here and there.

So if your account balance is not sufficient to contain this "irrational" market behavior you're gonna get stopped out pretty early.

This is why its important to trade lot sizes you can afford to fund.

This is also one of the main reasons many traders are unprofitable: because they trade with little capital.

Their capital cannot keep up with the markets irrationality.

Be fearful when others are greedy: I understand this to mean we should study price action and apply the Dows theory on market phases.

When a trend is in its early formative stages its best to jump on it and buy/sell.

When the trend is about to end its best to be fearful & jump off with any profits you made instead of being greedy and remaining

Yeah this is true

This is one of my favorite quotes, it keeps me going

I agree with this one!!!

Trading at the wrong time will not only waste your time, you also will witness very slow price movement. Boring !!!

Straight up!!

True happy friday

So true It takes patience to spot a quality trade opportunity. If you don't spot an opportunity, don't trade at all.

There should always be a solid reason why you placed a trade and not based on guess work or luck

True talk. Let your wins outsize your losses. When the market is going in your favor don't hurry and exit. Just use the trailing stop loss to keep adjusting your stop till the trend plays out.

This is so true. It takes a lot of discipline to do this. Sometimes you see the market just surging forward and you are tempted to jump in on the first candle that breaks your resistance/support line.