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    Friday, September 26, 2008

    Faber and Rogers

    Stay small and quick, if you trade at all. These guys support my idea that although anybody can be a great trader, few ever will:


    Marc Farber says losses might be closer to $5 Trillion.


    and then Jim Rogers, who has been very accurate on long term predictions.


    Discipline separates traders from gamblers, and is necessary in highly volatile times. It also helps to focus to fewer ideas. In fact, some of my best ideas were trades I did not take. I'm still on the sidelines (in yen), and just scraping a few $$$ here and there. For day trades, I'll scope the JPY futures (yen), Treasury bonds (symbol ZB on my platform), and stock index futures (S&P 500 and/or Nasdaq 100). I can't stress enough how important it is to stay in deep pools of liquidity. Forget individual stocks (if they work, the indexes would work too), and if the indexes don't confirm, then I won't be a player.

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