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Pearls of Wisdom for Traders
Posted By Barry Ritholtz On November 21, 2004 @ 6:01 am In Markets | Comments Disabled
Alan Farley, my colleague over at RealMoney.com, put together a list of "25 Pearls of Wisdom for Traders ."
Here are my favorites:
· The best trades come when the crowd leans the wrong way. In other words, the majority piles in one way but profits come from trading it the other way.
· Market direction is only as strong as the leadership that guides it. Stocks play follow-the-leader even when the charts tell a different tale.
· Follow the professionals in quiet times and the public in wild times.
· Don’t trust others’ opinions. It’s your money at stake, not theirs.
· Good timing on bad stocks makes more money over time than bad timing on good stocks.
Our styles are very different — I’m much less of a swing trader than him — but Alan’s got a good eye for pithy wisdom.
25 Pearls of Wisdom for Traders 
By Alan Farley
RealMoney.com , 11/18/2004 12:02 PM EST
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2004/11/pearls-of-wisdom-for-traders/
URLs in this post:
 25 Pearls of Wisdom for Traders: http://www.thestreet.com/p/rmoney/theswingshift/10195109.html
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