Something every trader should know

[Mercury]

A little something to divert us on the US election day.  The attached short article is about as good a quick summary of the key to trading (and investing) and why the herd advice given by FS professionals is not in your interest but theirs.

 

Comments greatly welcomed.

 

http://www.zerohedge.com/news/2016-11-07/7-impossible-trading-rules-follow

 

[Futures]

True

 

Reduce the noise take action on intuition and be a winner

 

[donaldprice]

Nice little summary, you do learn a **** of a lot while being in this business, before derivatives i was buying and short-selling classic old style shares in companies, so good wins some bad losses, that is the way it goes. For me always stick to your trading plan and make your own decisions. Yes great share ideas, but bottom line, i always implement by executions based on my own gathered knowledge. And the television section is also good. Although i often tune in to IG live and Bloomberg and almost every financial paper, journal, site etc, this is only to generate ideas and remind myself to look at everything and then narrow it all down and try and make sense of it all. In terms of tools, best to use everything you can use, more likely to have a probability trade. My strategy is trend following, i dont really like to call tops and bottoms, best assume until their is a good enough reason to fight the trend. It is all a learning curve and you have to constantly adapt to the times. From the year 2000 it was mergers and aquisions and flipping tones of IPOS during the dot.com bubble, 2008 was simply anything involved in real, estate and pretty much buy indexes and stocks during QE cycle, 2013 short-sell all commodity stock and commodities themselves. Now is looking and sell bonds, probably indices and long dollar pairs etc.