Rebel Traders 128 : By Order of D’Management
There’s a wee secret that most consistently successful traders never talk about. Heck, they may never even realize it, but the real secret is NOT in the widgets, indicators, signals but in the actual management of the trades.
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Ok, ladies and gentlemen, get ready because there are plenty of soap-box moments in this week's show. Phil puts on his “Ranty-Pants” and let’s loose on a few misconceptions that are all too common in the trading world and (as the voice of reason) Sean brings it back down to earth with a solid thump.
They break down why the power of good traders is NOT actually in the top-secret-indicators, the 30+ consolidation patterns that you can remember or the secret handshakes between traders “In the know” but in actually managing the trades.
3 Key Takeaways From This Show
- Indicators are not signal generators, they indicate something to look at
- Patterns are only really identifiable AFTER they are done
- Patterns shown in text books are PERFECT examples and perfect examples are rare
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