In effect, potentially giving up some of your profits.And when you have a losing position, instead of waiting for that position to get to break-even or make a small profit, you must take the loss, cut it short and look for a new opportunity.Of all the problems associated with trend trading, cutting losses short and letting winning trades run is perhaps the most difficult for traders to overcome.Because there is scientific evidence into the human mind that shows how investors fear losses by a much greater margin than they enjoy winnings.In trading, this means that we will do anything to avoid taking a loss.

And if you set aside the minority of informed traders who are adequately capitalised and have learnt the discipline and skills needed to trade, then this statistic starts to change.For these people (the informed traders) trading has become a craft and a way of life.

Unless you can gain access to the complete order book that shows how traders are buying and selling and even then it is not easy because of dark pools.Just remember that the market will always take the path of least resistance, so don’t think too deeply about why it is doing what it’s doing. schon als kind lernte er die harte arbeit auf den Fel-dern kennen, in der schule zeigte er herausragende leistungen, besonders in mathematik. During these periods people become curious about making money, they become greedy and complacent. Because human nature never changes, the stock market patterns will never change.The rules that have worked hundred years ago still work in today’s stock market.Including trading rules from Paul Tudor Jones & Jesse Livemore.I'll also send you two other of my eBooks for free.Trade only when the market is clearly bullish or bearish – That is the best advice anyone should follow.One of the best and so true. I forget it overnight. These two are the most expensive eighths in the world. There are plenty of days when an opportunity just doesn’t present itself.Maybe it’s a public holiday or maybe there just isn’t any news on the calendar. All you need to be looking for is to be profitable.Accept the fact that you’ll never be right 100% of the time. Don’t even think about looking for the tops or the bottoms. Or even a turnaround an increase of sellers on the market.The rise is has made, or the high price the stock has can never be the reason to sell.This is one of my favorite quotes from Jesse Livermore.

2) Play the market only when all factors are in your favor. Be prepared to sell your position when the market changes direction.When the confirmation the stock earlier showed is no longer there, there is only one thing you can do and that is to close your position.In your research you’ve found a sector that is doing extremely well in the current market.

Please see the Joe Marwood is an independent trader and investor specialising in financial market analysis and trading systems. Jesse Livermore was a self-made man trading with his own money – not other people’s money, like modern investment banks and hedge funds.

For intellectual scope and for natural aptitude I regard Jesse Livermore as the greatest speculator and market analyst since the turn of the century. ', 'The nature of the game as it is played is such that the public should realize that the truth cannot be told by the few who know.

Enter your email address and we'll send you a free PDF of this post. Learn from it and start looking for the next opportunity.Never argue with the stock market. Keep your risk managed and place your bets according to the trend and your plan.In trading, there are possibly three things that are most important. Only pick the trades that you have the best odds to make money.All the other trades will cost you a lot of time to prepare and a lot of stress when you’re in them. The market isn’t wrong. Let this thought be written indelibly upon your mind.” – Jesse LivermoreNever add more to a losing trade, the odds are that you are trading against the trend and just creating a bigger loss.

And that it is even better not to trade a lot of times.You need to learn not to force trades.

If there is one rule that is key for following trends in the market it’s this. The patience to wait for the right trading set up and then sit and hold a position on the right side of a trend is the path to profitable trading.

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