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    2. Knowledge is power

    No its not.

    Only the RIGHT knowledge is power.

    Trading is made very complicated by many experts yet, simple systems work best and the

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    When I read a lot of accepted wisdom by so called experts, I wonder if these people have actually traded in their lives.

    Here is some common advice that I see all the time, that if you follow it you will lose.

    Don’t fall into the trap of accepting it or following it.

    Here are 6 of my favorites:

    1. Day trading is a low risk high reward way to trade

    How many writers do you see talk about day trading and how successful they are at it?

    Lots!

    Now:

    How many of them can show a real time track record of profits over the long term?

    None.

    This is simply the dumbest way to trade there is.

    All short term volatility is random.

    You can never get the odds in your favor and you will lose and lose quickly.

    2. Knowledge is power

    No its not.

    Only the RIGHT knowledge is power.

    Trading is made very complicated by many experts yet, simple systems work best and the

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    Don’t fall into the trap of accepting it or following it.

    Here are 6 of my favorites:

    1. Day trading is a low risk high reward way to trade

    How many writers do you see talk about day trading and how successful they are at it?

    Lots!

    Now:

    How many of them can show a real time track record of profits over the long term?

    None.

    This is simply the dumbest way to trade there is.

    All short term volatility is random.

    You can never get the odds in your favor and you will lose and lose quickly.

    2. Knowledge is power

    No its not.

    Only the RIGHT knowledge is power.

    Trading is made very complicated by many experts yet, simple systems work best and the

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    How many writers do you see talk about day trading and how successful they are at it?

    Lots!

    Now:

    How many of them can show a real time track record of profits over the long term?

    None.

    This is simply the dumbest way to trade there is.

    All short term volatility is random.

    You can never get the odds in your favor and you will lose and lose quickly.

    2. Knowledge is power

    No its not.

    Only the RIGHT knowledge is power.

    Trading is made very complicated by many experts yet, simple systems work best and the

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    g term?

    None.

    This is simply the dumbest way to trade there is.

    All short term volatility is random.

    You can never get the odds in your favor and you will lose and lose quickly.

    2. Knowledge is power

    No its not.

    Only the RIGHT knowledge is power.

    Trading is made very complicated by many experts yet, simple systems work best and the

    Think Time... It's Now Or Never
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    e quickly.

    2. Knowledge is power

    No its not.

    Only the RIGHT knowledge is power.

    Trading is made very complicated by many experts yet, simple systems work best and the real problem for most traders is acquiring self confidence in their own ability and discipline.

    Most traders like to follow others and if you do that, you will more often than not lose.

    3. Buy low sell high will make you money

    Well we all want to do this:

    Pick the market bottom and sell the market high but it’s simply not possible.

    Take an example:

    Prices are moving to support so a trader buys, trying to predict a bottom and hope support holds.

    Well, that’s a good way to lose your money trading against price momentum.

    You need to wait for the turn and see price momentum move back up.

    Sure, you won’t get in at the bottom but the odds will be in your favour.

    On the other hand, a breakout occu

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