Read the whole article HERE, or read the majority of it below (yeah, yeah even the options peeps respect my instructional DVDs):
Optionetics: What are the things you like best about the trading business?
Tim: I love the challenge of trying to find lasting strategies and patterns in continually changing markets. I’ve been forced to adapt several times throughout my decade-long trading career.
The key to success-publishing and trading-is simply being open and honest. Who would have ever thought brutal honesty would be such a revolutionary concept-only in the joke that is the “trading business”.
Optionetics: How do you treat losses and how do you go about establishing your risk tolerance before the trade is entered?
Tim: My risk tolerance is simple: if a stock doesn’t act EXACTLY the way I thought it would when I first entered the trade, I get out. It doesn’t matter if I have a small profit or small loss, low priced stocks move so quickly-and I’m trading the most volatile of the bunch-that I can’t risk getting stuck in a pattern I’m not 100% sure about.
Posted in Interviews, Q&A