“Ninety-nine percent of the people in the business are followers. They’re not creative and they’re not willing to rely upon themselves to make decisions, so they rely upon other people.”
–Tom Demark
The Study
Covered approximately 6000 years of raw price data from the Philippine stock market
Can the skills of a successful trader be reduced to a set of rules?
“We are going to grow traders just like they grow turtles in Singapore.”
–Richard Dennis in Market Wizards
The Turtle Experiment
The story, which first appears in Jack Schwager’s Market Wizards, by now has attained almost legendary status. Read the rest of this entry »
Do you, your broker or your investment manager have a pre-flight checklist?
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“After 20 years of trading, I find it almost impossible to trade without a plan that does not have fixed rules.”
–Robert Krauscz, New Market Wizard
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Can you imagine the pilot of a jumbo jet climbing into the cockpit, firing up the engines, and hurtling down the runway into the sky without a second thought? I mean, no checklist, no clearance from the tower, no nothin’? Read the rest of this entry »
Mac Murray