Expert Trader: 93 Trading Lessons of Richard Wyckoff by Frank Marshall

Author:Frank Marshall
Language: eng
Format: mobi, epub
Tags: trading, Business
Publisher: Marshall Press
Published: 2014-07-26T23:00:00+00:00

Discussion: Instruments move in tandem. This is true for stocks, but there are also strong correlations between different markets and the instruments within each market. The nature of the beast is interdependence.

On Break Even Trades

“...the trader's problem is not only to eliminate losses, but to cover his expenses as quickly as may be. If he has a couple of points profit in a long trade, there is no reason why he should let the stock run back below his net buying price. Here circumstances seem to call for a stop order, so that no matter what happens, he will not be compelled to pay out money. This stop should not be thrust in when net cost is too close to the market price. Reactions must be allowed for.”

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