Some advice for traders from Deron Wagner this morning:
For those new to trading and/or this newsletter, the concept of staying mostly in cash, and taking a few shots here and there with reduced share size, is tough to grasp. Many new traders are anxious to test out new strategies/methods, and have expectations of outperforming the market every single month. But we’ve learned the hard way, through years of experience, that knowing when to go full throttle, and when to apply the brakes, is the key to long-term success as a trader. Capital preservation during indecisive and erratic market conditions enables us to be in the game for the long-term, so that we can aggressively take advantage of opportunities when the good times return.
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