Hello All,
What’s that one piece of advice that’s helped you when things were tough and during good times? Your tip will be super helpful for other traders.
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One advice I got
- Keep things simple - Long time back when I was starting off an expert system coder told me your core trading system logic should be so simple that it can be written down in a small piece of paper. Over the years I figured out the value of that advice. Simple things are easy to understand, easy to follow and easy to fix if something goes wrong.
Few I figured out trading the market
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Go Systematic in auto mode - Its pretty hard to do chart gazing or fundamental analysis day in day out and enter and exit trades among all the other things that life throws at us. Also such chart gazing takes a toll on the mind and body. Systematic automation helps to save time, keeps body and mind in sane space. This is ofcourse after a well rounded and well tested system has been developed.
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Capital adequacy - Always keep position sizing such that capital is adequate to absorb the drawdowns and losing streaks in the trading system. Also trade with capital one can afford to lose.
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