159: Greg Newman – Bringing Stoicism to Trading—and Market Making in Oil Derivatives
Chat With Traders
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Do Not Average Into a Losing Position
Paul Tudor Jones, big time trader veteran in the market, would say, you know, I spent all day making his risk kind of a niller in exactly what he wants. Another guy is a top trader, Dennis Gartman, he has a list of rules and yeah, one of them is buy what is strong, sell what is weak. To really capture moves, you have to not fall to biases such as anchor bias or perception of price being too high or too low.
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