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Lesson # 1: Don’t Ignore the Warning Signs

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Lesson # 2: Don’t Be Right in Your Analysis, but Miss the Trade

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Lesson # 3: Trust Your Methodology

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Lesson # 4: Take the Time to Find the Best Trade, Don’t Rush Into It

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Lesson # 5: Don’t Ignore Signals from Other Successful Trading Strategies

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Lesson #6: Always be Aware of the Bigger Picture

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Lesson #7: Know When to Cut Your Losses

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Our Last 3 Trading Lessons are Kernels of Wisdom from Jamie Saettele and Antonio Sousa:



Lesson #8: Markets can be Wrong for a Very Long Time

Just take the example of how rate cut expectations went from pricing nothing at in July to 4 rate cuts before year end as the credit market conditions started to reveal how bad the housing market was doing. – Antonio Sousa

Lesson # 9: Markets are Deceptive. What Seems Obvious is Usually Wrong

The perfect example is the obvious forecasts for $100 oil and the EURUSD hitting 1.50 by the end of the year. – Jamie Saettele

Lesson #10: Know When to Step Aside

This lesson reminds me of a quote from Reminiscences of a Stock Operator. It is advice that an old broker gives to Larry, he says..."If I am walking along a railroad track and I see a train coming towards me at sixty miles an hour, do I keep walking on the ties? Friend, I sidestep. And I do not even pat myself on the back for being so wise and prudent.