My guest today is Steve Burns. Burns has been investing and trading in the stock market successfully for many years. He is the author of seventeen books about the stock market. He is one of this sites top reviewers for books about trading and investing having read and reviewed several hundred books.
The topic is trading.
In this episode of Trend Following Radio we discuss:
- Risk management
- Position sizing
- The magic of compounding
- Why individual trades have very little meaning
- Turning down the volume on your emotions in your trades
- How your losses can be an education
- Concept and theory with regard to trend following
- Quantifying and capturing trends
- “Just trading the numbers”
- Greed and fear in the context of trends
- The common attitudes and misconceptions of novice to trend following traders
- Trading against the market vs. trading against yourself
- Drawdowns, and the importance of studying the track records of the great traders
- Entry and exit strategies
- The importance of starting “right” in every enterprise
- The curse of laziness
- Ignoring the talking heads
- Why you don’t need 20 screens on your desk to trade optimally
- Cutting your losses
- The 1% rule
- Being blinded by the fundamentals
- Why if you diversify, control your risk, and go with the trend, it just has to work
- I.Q. vs. emotional intelligence (E.Q.)
- Technology and long term trend following
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