Fools Rush In (or Out)
Paul King, November 4th
When I first started trading full-time (about
4 years ago) I though that time was always of the essence, and my biggest fear was being too slow to enter a trade and missing
out on that huge winner. Now I believe that being a little more patient on entries
and exits pays off in the end...
Losing is Part of the Game
Paul King, November 1st
So October is finally over and it was the
worst losing month since I formed PMKing Trading with a loss of -5.91%. Aside
from the unavoidable pain of having a losing month, how do I decide that this performance is ‘normal’ and that
nothing is broken, needs fixing, changing, or ceasing altogether..
Hard on Losers Easy on Winners
Paul King, October 24th
Of all the things that you should do when
trading, cutting losers short and letting winners run is the easiest to say, and the hardest to do. Our natural tendencies want to give losers that little bit of extra time and room to turn around and become
winners, and also close winners out before that small profit is wiped away...
Trading is Easy, It’s the Making
Money That’s the Hard Part
Paul King, October 17th
Actually buying and selling financial instruments
is easy; you need a brokerage account, a little starting cash, and (for electronic trading anyway) a computer with an internet
connection. That’s it! No
other startup business I know has such low barriers to entry. Maybe that’s
why so many fail, because so many can easily start a trading business. You probably
already have the computer, the internet connection, and a funded brokerage account so why not just ‘become’ a
Why Sell the Goose That Lays the Golden
Paul King, October 10th
Before I became a full-time trader I often
wondered why anyone would sell a profitable trading system rather keeping it secret and trading it themselves. Now I am a full-time trader I understand why. It is because
income from trading, no matter how successful, is not predictable enough to pay the mortgage, and everyone has fixed monthly
expenses that are best met by a fixed (relatively) regular income...
Place Your Bets Please
Paul King, October 3rd
It never fails to amaze me how much trading
takes place right before (or even during) an earnings announcement or conference call.
What are these people thinking? Spreads are wider, volatility is not predictable,
and there are huge price swings up and down before the price settles down where it wants to be at some sort of (rather choppy)