Experts Trading Advise

The Rituals of Trading (an interview with)~ Linda Raschke

On How to Become a Better Trader:
"Get good basic foundation in technical analysis. By that I mean study basic chart patterns..."

"Simple trading ideas are better."

Market Wizards ~ Jack Schwager

On Money Management:
"Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half." : Bruce Kovne

"Never risk more than 1% of your total equity in any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical." : Larry Hite

"You have to minimize your losses and try to preserve capital for those very few instances where you can make a lot in a very short period of time. What you can’t afford to do is throw away your capital on suboptimal trades." : Richard Denni

Jesse Livermore: The World's Greatest Stock Trader ~ Richard Smitten

Basic principles:
1. Don't Lose money
2. Always Establish a Stop
3. Keep Cash in Reserve
4. Let the (Successful) Position ride...until you have a Clear Reason to Sell.
5 Take the Profits in cash...and place 50% in a separate account

Lessons From the Greatest Stock Traders of all Time ~ John Boik

Basic principles:
1. Trade with the Trend
2. Cut Losses short
3. Let Profits run
4. Manage Risk

How Legendary Traders made Millions ~ John Boik

Basic principles:
1. Understand the General Trend of the market
2. Use the Knowledge of History in your Study and Observation of the Markets
3. Use your Own Research and Don't Listen to Others
4. Buy the Leaders
5. Buy only on Breakouts and Use a Pyramiding Strategy to add to those Winners
6. Cut Your Losses short
7. Hold on to your Winning Positions until Classic Sell Signals tell you to unload your Positions