12. Developing a Trading Game Plan
“Plan your trade and trade your plan.”
—Trading adage
“It was the change in my own attitude toward the game that was of supreme importance to me. It taught me, little by little, the essential difference between betting on fluctuations and anticipating inevitable advances and declines, between gambling and speculating.”
—Jesse Livermore
In the popular imagination, trade identification is more important than risk control. Yet, most successful traders argue the opposite. Before you start to trade you should first identify your trading edge, because knowing where your comparative advantage is helps determine the types of trades you enter. You should also decide how you will make your trading decisions. Are you a ...
Get Shock Markets: Trading Lessons for Volatile Times now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
