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Follow these two rules to preserve and grow capital

  #11 (permalink)

Dallas, Texas
 
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: AAPL, /ES, IWM, SPY Options
 
Posts: 330 since Oct 2012
Thanks: 552 given, 178 received

1. Accept being wrong or if scalping losing trades. I tried to mentor my brother in law, Phd in Engineering, programmer really smart, could not accept being wrong. Another programmer friend couldnt accept being wrong either. It is going to happen all the time, accept it and make adjustments (options), or move one to the next trade(scalping)

2. Take on a contrarian view sometimes, for options that has been selling into the fear. Here recently there have been some great opportunities to make some extra return when volatility spikes

Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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