emmzett's Profile | Crypto Craft
 emmzett
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  • Status:
  • A Foo walks into a Bar...
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  • Joined Forex Factory:
  • Apr 2008
Posts (775)
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About
  • Trading From:
  • Bulgaria
  • Trading Since:
  • July 1998
  • Trading Philosophy:
  • Individual trades are not about making money. They are about managing losses. Most traders lose because they tolerate their losses. They allow positions to move hundreds of points against their entries, they add to losing positions and more often than not they allow one bad trade to wipe out many trades worth of profits. Trading is not the art of making money. It is the business of not losing money. That may sound simplistic, but in order to really understand trading you must accept the fact that winners are often a matter of luck but losses are strictly a question of skill.
  • Favorite Trading Quote:
  • "There are three ways to make a living in this business: be first, be smarter, or cheat. I prefer to be first." — John Tuld, Margin Call (2011)
  • Biography:
  • Trading is not what most people think. 95% of the information out there is useless, scam or even fraud. Nothing is what it seems.

    "All customers are terminal. Our job is to make their trading as comfortable as we can, until they expire." This quote is by Mark Douglas about his time in Chicago when working as a trader for Merrill Lynch. That was in 1981. Nine months later he had blown all his trading accounts. But don't worry. Soon after - in 1982 - he decided to become a trading coach and started talking about discipline and psychology instead. Another 8 years later he was known as a famous writer about trading topics. His most famous book "Trading in the Zone" is considered the trading bible by many novice traders.

    That's still the same guy who couldn't trade in the first place, never went back to trading and died having never traded again.

    Think twice about it.
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