tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,417
- Reactions
- 6,356
Re: Darkhorse's "REAL MONEY" trading diary (noob friendly haha)
While I agree with the answers shared above---I have my own simplistic view.
Find out how to profit in this business---infact any business.
Understand Reward for Risk and Risk itself as Trade Risk/Portfolio risk/Risk of Ruin.
Understand wether your going to be looking for high % wins and small losses OR
Less Wins and Bigger wins to off set losses.
This will determine to a large extent how you run your business.
Also understand margin and the CORRECT use of margin.
The power of Compounding. Pyramiding and the power of
staying right longer.
Finally learn the Perato Principal the most important and least used
truisms of modern business and LIFE itself.
Master this and you'll master most things in life!
While I agree with the answers shared above---I have my own simplistic view.
Find out how to profit in this business---infact any business.
Understand Reward for Risk and Risk itself as Trade Risk/Portfolio risk/Risk of Ruin.
Understand wether your going to be looking for high % wins and small losses OR
Less Wins and Bigger wins to off set losses.
This will determine to a large extent how you run your business.
Also understand margin and the CORRECT use of margin.
The power of Compounding. Pyramiding and the power of
staying right longer.
Finally learn the Perato Principal the most important and least used
truisms of modern business and LIFE itself.
Master this and you'll master most things in life!