trader basics: trader’s facts of life!

Trader’s Fact of Life #1(entry level) 95% of all action taken in the mar­ket place is based on irra­tional behav­ior or ratio­nal­ized think­ing.

Trader’s Fact of Life #12 (entry level) You have real­ized that over the last 15 years we have wit­nessed a few reces­sions and the lat­est and great­est new breed on the retail finan­cial ser­vices desk are EX Wall Street, EX Banks, EX Hedge fund traders, EX Real Estate Flip­pers and Ex Dot.Com rejects all from the past three finan­cial cri­sis all now try­ing to do it again!

Trader’s Fact of Life #13 (entry level) Wait­ing for the per­fect trad­ing sys­tem is just a way of “chick­en­ing out”, and caused by your lack of faith in your own judgment.

Trader’s Fact of Life #14 (entry level) Traders over­look good sys­tems as they con­tinue to believe every­thing they have read in trade jour­nals or been told by a bro­ker or learned at a trad­ing seminar.

Trader’s Fact of Life #15 (entry level) Any trad­ing sys­tem sold that truly works 70% or 80% or 90% of the time in every mar­ket would be worth hun­dreds of mil­lions of dol­lars and would not be for sale at any price. P.S. they don’t exist!