I wanted to write about this as i had a couple questions on it today. I often tell my students that i personally train that the best money makers out there arent the greatest stockpickers but the best managers of risk. My mentor paul singh used to say that nonstop in his emails to me. As a trader thats your first job as very few people are great stock pickers. for years I was a terrible terrible trader but i got by because I was a natural stock picker. I could hit such boomers that geting the perfect price, exit, stop loss didnt matter as much as there was a big margin of error. But overtime my results plateud as I was taking 5 steps forward 4 steps back and i wasnt using good risk/position managment. Those are the 2 things that seperate traders from elite traders.
Day: April 19, 2011
Boom Boom stocks 4/19/2011
the market did a bit of a tanking yesterday early in the morning giving us quite a scare. the ball fondlers over at the S&P had the nerve to downgrade u.s. debt….like these jerks who rated subprime mortgages with AAA ratings would know how to rate debt. These are the jokers that let organic tilapia …
Early Morning Watch
Casino stocks having a nice pre-market. Watch MPEL and LVS for morning movement. COOL, WNR both seetting up nicely this morning with WNR showing a possible swing setup to near 19.50 SHZ on watch in trading range. Watch at 6.40 Dollar is down (backfilling yesterday’s up move) which should allow equities some breathing room to …