Everyone makes mistakes. Some repeat their mistakes and suffer continuously. The smart ones learn from their own mistakes and call it experience. But the geniuses are a special breed, they're the ones that learn from the mistakes of others. Here's what Bruce Kovner has to say about this subject: "You have to be willing to make mistakes regularly; ther


Source - http://trenders.blogspot.com/2006/02/trading-wisdom-bruce-kovner.html

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For most people, trend following is extremely counter-intuitive. Why? Because it's human nature to look for bargains before buying. People tend to buy when it's low and sell when it's high. But, how many are bold enough to do the opposite by buying high and selling even higher? My guess is; not many. And what about risk management? Yeah, what about it? Re


Source - http://trenders.blogspot.com/2006/02/trading-wisdom-trend-following.html

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I learned how to play poker at a very young age. My father taught me the concept of playing the percentage hands. You don't just play every hand and stay through every card, because if you do, you will have a much higher probability of losing. You should play the good hands, and drop out of the poor hands, forfeiting the ante. When more of the cards are o


Source - http://trenders.blogspot.com/2006/02/trading-wisdom-gary-bielfeldt.html

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Michael Covel's site contains a wealth of information on trend following. Here is some great feedback from one of his readers regarding simplicity: I personally know quite a few trend followers that adhere to the idea that systems drift over time and need to be tweaked. Such traders sow the seeds of their demise. They lack the tendency to idealize, and


Source - http://trenders.blogspot.com/2006/02/trading-wisdom-simplicity.html

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Being in the flow happens effortlessly. It is something that just overtakes you and consumes your every being. It's a wonderful feeling occuring only in activities that you enjoy very much. In my case, trading is one of those activities. Here's how Mihaly Csikszentmihalyi describes it: Flow is being completely involved in an activity for its own sake


Source - http://trenders.blogspot.com/2006/01/being-in-flow.html

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