Any financial market opened to risk taking is a casino. A friend asked me how much to risk on each Forex trade. I reprised what Ed Seykota has advised : Risk no more than you can afford. Risk enough so the win can be meaningful. If you cannot achieve both – don’t trade. That about sums it up: How much one can afford to […]
Is trading really like poker? In both cases, the player makes decisions with incomplete information, reacts with strategies and risks important resources for rewards or losses. There are many similarities – the player must know when to fold, when to push on with larger stakes, and maintain a sensible composure in the most exhilarating and daunting of times. In a […]