Marty Schwartz Jack Schwager’s “Market Wizards” Discussion in Amherst
Source: http://www.youtube.com/watch?v=CkDZbGVR7Y8#action=share
http://www.cmegroup.com/education/top-traders-round-table-episode-07.html?mkt_tok=eyJpIjoiT0RjM09HUTNOemd3T1RkaCIsInQiOiJVOGVyVzNVTnBvaGtXbXZHM3JVVFhcL2dzZzFqUXRtTHZ3NFlEOEQxdzh5c29iMDhHUlNnSDEyTG9CNjA5dTVFMlVrd2lFWXJwZkdMS1pjZEFuV0tLNjl1ZEV4UXhoTzBlaTg4M2lGZHQ0eDhWU1QyajIzK3ZYaGZXKzZQSDFUMmsifQ%3D%3D
Richard Donchian’s Trading Rules
“Top Down Trading” (TDT) was Jesse Livermore’s unique trading system which outlines how one of the world’s most famous speculators read the tape. Livermore emphasized the importance of keeping things simple by remaining as objective and unbiased as possible.
Lesson 1 stressed the importance of developing “a sound market-tested trading plan, then trade your plan.” Lesson 2 discusses the importance of handling losses. Remember, losses are inevitable so don’t set them aside. Instead, prepare for them by integrating them into your trading plan. That way you can recognize when you are wrong, and instead of battling it out in the psychological warzone, you can cut your losses and get back to winning.
Power Follows Wealth: Many years ago, Legendary Investor Jim Rogers told me that Power follows Wealth. A brief look at history confirms his thesis. We all know that empires were built when massive fortunes were accumulated and eventually collapsed when their inevitable economic dominance ended. Over time, capital begins to…
Peter Thiel on Timing is Everything One of the dilemmas with our post-bubble hypothesis is that while the enormous distortions affecting the market, must eventually unwind, they can get bigger before reversing course. Balancing long-term and short-term views on the pivot of timing indicators is very tricky. For example, we think there is a housing…