Rick looks at concepts behind being a successful trader and how to manage risk in volatile markets. These include stop limits, entry and exit points, options markets, and setting realistic expectations.
00:00 – Intro
03:34 – Macro Sector Relative Results YTD
05:24 – Keys to Successful Risk Management
07:01 – Don’t Marry Your Positions
09:04 – Focus On Potential Losses; Not Gains
10:21 – Use Tops But Understand The Risks to Using Them And Stop Limits
14:20 – Widen Parameters For Entry And Exits
16:26 – Medium-Term Trading Is Extremely Difficult
19:18 – Learn How To Use The Options Market to Manage Risk
22:22 – Your Last Trade (Winner or Loser) Should Have No Bearing on Your Next Trade
24:09 – Enjoy The Game or Don’t Play at All
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