Why you need to have a plan ahead of time

Why you need to have a plan ahead of time

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Episode
148 of 1242
Duration
9min
Language
English
Format
Category
Economy & Business

A small allocation is a strategy. A large allocation is a business. How you handle yourself in market corrections instructs allocators how you will handle yourself with their money. Have a game plan ahead of time. The market is always right - don't deflect blame. Really good traders understand themselves very well. They have ownership of their emotions and trading. Pairs trading is a good way to have a hedge that you can actually make money on. Simultaneously long one name and short another. Both "legs" can profit, whereas if you have a married put with a long stock, you're bullish on the stock but if you make on the hedge, it's because you're losing on the stock.


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