Trader Vic - Methods of a Wall Street Master Paperback - 1993
He calculated his position size. He refused to bet the farm. He placed his trade with a tight, logical stop placed just below the "invalidation point." If the trade was wrong, he would be out. No hoping. No praying. Just execution. Trader Vic Methods Of A Wall Street Master By Victor
Victor Sperandeo writes that he knows many traders who have a higher IQ than he does. He knows traders who can quote Elliot Wave theory until they are blue in the face. Yet, they lose money. Trader Vic - Methods of a Wall Street
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: Building wealth through steady, manageable gains rather than high-risk gambles.
Where Account Risk is 2% of your capital. Notice that volatility (the distance to your stop) determines your size. High volatility equals small positions. Low volatility equals large positions. Most traders do this backwards; they buy the same number of shares regardless of volatility and blow up.
: The primary rule is to avoid significant losses that could end a trading career. Consistent Profitability