Happy Holidays! At DailyFX, we always say that we are Traders First and Analysts Second. Each and every one of the Analysts on the DailyFX Team actively trade in the markets and we wanted to take this opportunity to share with you, real trading lessons that we have learned this past year.
Let us know what you think about these trading lessons on the DailyFX Forum . Post your comments in the Q&A Thread
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
Our Last 3 Trading Lessons are Kernels of Wisdom from Jamie Saettele and Antonio Sousa:
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
Let us know what you think about these trading lessons on the DailyFX Forum . Post your comments in the Q&A Thread
