What other bloggers are saying

Money management

Managing
money and managing risk play an important part in my trading philosophy.  Jim Farrish, a contributor to greenfaucet.com,
makes these points – and I agree with them:

  •  "manage your money – not the market or others opinions. "

  • “It is easy to
    get caught up in what the market is doing and forget about what you are doing.”

 

  •  “As an investor I
    want to manage my money relative to what I want to accomplish. What others
    think is interesting, but in the end it is your money, your goals and your
    decisions that matter.”

 

  •  “Use a defined
    strategy for getting in, getting out, and a defined target/goal. Know why you
    are investing… Focus on managing your money based on what
    you want, and let others do what they want.”

 

Comfort Zone

I
recently blogged
about defining your comfort zone and learning to trade within it.

Here is an
intelligent post from The Kirk Report (link no longer active) with a different perspective. Please keep in mind that his advice is geared
to the experienced trader and rookies should first understand where their
comfort zone is before adopting his suggestions.

  •  “High achievers
    (in life and in the market) frequently step
    outside their comfort zone.”
  • “The key for
    today is to first understand what your comfort zone is and then take a step
    outside of it.”
  • “Remember, the market
    doesn't reward comfort and decisions that ‘feel’ good.”
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