We would like to encourage our readers to tell us your stories. I have received one recently and would like to share it with you.
“No AbleTrend user would have lost on stock VRX as the rules kept us short since late September 2015!! Weekly chart clearly showed the way down
http://www.finalternatives.com/node/32705
By Svea Herbst-Bayliss (Reuters) – Hedge funds on Tuesday lost an estimated $5.3 billion on drug maker Valeant Pharmaceuticals’ stock meltdown, with billionaire investors William Ackman and Jeffrey Ubben taking the brunt of the hit – losing more than $700 million each, according to data from research firm Symmetric.IO
Great example of how being on the wrong side of any market is NOT the issue. The issue is not having a predetermined in the market exit point that requires no thinking.ie a Stop Loss Order.
Billionaires (VRX example) as well as Noble prize winners (Long term Capital Management see link below) got it wrong too.
The critical factor for trading survival is simply having placed in the market at all time a GTC protective stop order. Traders Must predetermine where they are exiting before entering. AbleTrend T2 provides this brilliantly. My broker is under strict instructions not to place any new entry on any market unless I give him a corresponding exit (Stop loss) order at the same time! “The most important rule of trading is to play great defense, not great offense. Every day I assume every position I have is wrong.
I know where my stop risk points are going to be. If they are going against me, then I have a game plan for getting out.” – Paul Tudor Jones
Imagine being short Swiss Franc currency futures with no stop on January 15, 2015, the huge move up on that day could be another example of no stop pain, perhaps that could cause the end of your trading career!
AbleSys Corporation – Keep up the great Job
Best – Jim Martin, Australia”
There are many tricks and best practices in turning a trading system into a successful operational reality. That’s why our 30-day trial offer includes one-on-one consultation and weekly webinars to help you to make the most out of AbleTrend. Ultimately the best way to learn this skill is by picking up the full function software, trying it out and practicing.
If you’re not already using AbleTrend before, use promo code: WTMF10 to get extra 10% off for AbleTrend 7.0 30-day trial.
For addition insights and articles on trading, see our blog: blog.ablesys.com
Or watch archived sessions from our introductory and member’s webinar series: Click here to view our youtube page
I welcome your feedback. Did you like today’s message? What other topics would you like to see? Please let me know at gracezh@ablesys.com
With Warm Regards,
Grace Wang
AbleSys Corp.
gracezh@ablesys.com