The product of a five-year collaboration between Dr. Ari Kiev, a leading psychiatrist renowned for his success with Olympic athletes, and top equities trader Steve Cohen, Trading to Win gives you the essential tools to overcome outmoded, self-limiting beliefs and mindsets that may be keeping you from a higher level of success.
s trade. Don't stretch your luck. think the market is going to fall apart. 22. If you get bigger and stay longer you increase your risk in a high-volatility market. 9. Don't fight the tape all day long. Don't keep looking for shorts when the tape is trending up throughout the day. 23. When you buy a group, you increase your profitability and 10. Look at each position on its own merits. Don't justify being you reduce your risk through diversification. Increase the number of positions you take and you increase your chance for profitability. in one stock by being ahead in another stock. Keep figuring
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Keep looking at what compels you to trade in a certain way. Is 11. Be satisfied with your positions if they are stretch positions. Don't always be looking to hit a home run. 11. Be satisfied with your positions if they are stretch positions. Don't always be looking to hit a home run. it rational from a trading viewpoint or is it merely a reflection of your personality and style? 12. Stay with things longer and try to get bigger, rather than trade in and out. Get bigger in your winners and lack out the ones that aren't working. 25. If you take too many positions to cover yourself, you lose the maximum punch. 26. Remember that traders lose the most money when they load up on one side and make a bigger bet the next day. 13. Try to diversify. Traders lose the most money when they are loaded up on one side of the market and making a big bet the 27. Diversity is good. 28. Trade more quickly.
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Diversity doesn't mean to hedge but to have a diversity of ideas. 124 'Basic Trading Principles 125 T R AD I NG TO W IN on short stops, it was recommended that he never sell a stock that was up and that he should short stocks that weren't going up. That way he would make money on the long side, and not lose so much on the short side. In effect, he was encouraged to eliminate the short side in order to become profitable consistently. Six months later, after repeated sessions and two forced withdrawals, Brent began to demonstrate a string of consistently successful weeks of trading. Thirty-One Basic Risk Management Guidelines (Continued) 29. To be successful, keep moving. Don't get too attached to a
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30. If you are a compulsive trader who frequently blows up, control your risk by lowering your targets and being more aware of your risks. Stop swinging for die fences. When you are about to do something stupid, ask for help. Go back to mak"What are you doing now that's different?" I asked him at our
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