Lesson # 1: Don’t Ignore the Warning Signs
Lesson # 2: Don’t Be Right in Your Analysis, but Miss the Trade
Lesson # 3: Trust Your Methodology
Lesson # 4: Take the Time to Find the Best Trade, Don’t Rush Into It
Lesson # 5: Don’t Ignore Signals from Other Successful Trading Strategies
Lesson #6: Always be Aware of the Bigger Picture
Lesson #7: Know When to Cut Your Losses
Lesson #8: Markets can be Wrong for a Very Long Time
Just take the example of how rate cut expectations went from pricing nothing at in July to 4 rate cuts before year end as the credit market conditions started to reveal how bad the housing market was doing. – Antonio Sousa
The perfect example is the obvious forecasts for $100 oil and the EURUSD hitting 1.50 by the end of the year. – Jamie Saettele
This lesson reminds me of a quote from Reminiscences of a Stock Operator. It is advice that an old broker gives to Larry, he says..."If I am walking along a railroad track and I see a train coming towards me at sixty miles an hour, do I keep walking on the ties? Friend, I sidestep. And I do not even pat myself on the back for being so wise and prudent." - Jamie Saettele
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