Trading Quotes

Trade only twice a day – once in the morning and once in the afternoon. Continue trading this way for at least the first 2 to 3 months. [2008] - Markus Heitkoetter

Many traders use similar tools, and I know in fact the majority almost always loses. [2008] - Michael Duane Archer

I recommend a toolbox consisting of at the most three Indicators. [2008] - Michael Duane Archer

A moving average typically works when a market is trending in one direction or another. An oscillator is most effective when a market is moving sideways. [2008] - Michael Duane Archer

My take on the news is this: Don’t try to trade it, but watch how the market reacts to it for trend indications. Remember the initial price impact of news is often dramatic, but it may take several hours to be fully absorbed. It is not uncommon for prices to react sharply in one direction initially, then gradually trend in the opposite direction for much of the trading session. This phenomenon is called Price Trace Dispersement(PTD). [2008] - Michael Duane Archer

A successful trader is one who is able to apply proven methods with a success rate of about 70%. In fact, some successful traders are very profitable even with a 60% success rate. [2008] - Yeo Keong Hee

Lagging indicators often cannot help you anticipate the coming of a trend before it starts. It merely identifies that a trend has started, and tells you that this trend is valid enough for you to ride on it for a while and then get out quickly for a profit. [2008] - Yeo Keong Hee

We should always respect the presence of support and resistance levels on a price chart; they represent "invisible forces" that tend to repel prices away from them. [2008] - Yeo Keong Hee

Use no more than four indicators on the price charts at any one time. What matters most is which combination of indicators proves to work, what parameters to use for each of them, and what trading conditions need to be fulfilled in order to justify the existence of a tradable trend.  [2008] - Yeo Keong Hee

Ensure that after getting into the trend, you do not get stopped out by the retracements that occur within the trend. You are more vulnerable to such retracements when using shorter timeframes. The prevailing volatility and the locations of recent support and resistance levels help us determine where our stop-loss levels and profit targets should be placed. [2008] - Yeo Keong Hee

Generally speaking, any first breakout attempt should not be taken too seriously. Wait for a retracement before trading the breakout. [2008] - Yeo Keong Hee

Fibonacci is best used in projecting retracements in a trend. We should use at least on other trend indicator to confirm whether we should do a long trade at a support juncture. [2008] - Yeo Keong Hee

Successful trading is often about uncovering tendencies in our trading behaviour that originate from the subconscious mind. [2008] - Yeo Keong Hee

It is fine to lose when you have followed the rules. [2008] - Yeo Keong Hee

Very often, when my students ask me why a particular trade failed, I am able to point out reasons for the loss; it could be that the entry was too late, or that not all conditions were ideally fulfilled, or that entry was done too near a major news event. However, there are times when the entry was ideal in many ways, but the trade still failed! In such cases, all I can say to them is, "It's part of the game, my friend!" [2008] - Yeo Keong Hee

Consistently use (with discipline and proper risk management) strategies that produce more wins than losses in the long run. Wait stringently for the best trading opportunities before you take action. Trading too frequently causes you to be caught in many bad trades; your success rate will be low. [2008] - Yeo Keong Hee

The process of scaling up your account size must not be too abrupt. [2008] - Yeo Keong Hee

It is best to focus on your own rationale for doing a particular trade, instead of someone else's views on a public forum. If you have paid careful attention to those sophisticated-looking talking heads on TV babbling intelligently about the economy and the US dollar, you will realise that much of the babbling amounts to nothing useful as far as trading is concerned. [2008] - Yeo Keong Hee

Fully automated trading systems can never beat experienced traders who rely on some level of discretionary trading. [2008] - Yeo Keong Hee

We might not realise that we have a habit of getting out too early at the slightest signs of profit. Also, many traders are overly conservative because they have no confidence in themselves. The right way to look at every trade is to consider it as just one trade out of the many you are going to do. [2008] - Yeo Keong Hee