In this week’s episode, we discuss Ray Dalio’s recent article on Paradigm Shifts and his comments on the safety of Gold. We also touch on the perils of having too many filters that keep you from entering a trade, why you should avoid ‘sure thing’ trade recommendations from others, the importance of having a plan before entering a trade, the benefits of incorporating what you’ve learnt from others about Trading into your own strategies, and the reasons for buying at the 52-week high as opposed to the 52-week low. Questions this week include: is it better to have multiple exit strategies on a trade or just one single criteria? Should long positions have the same Trading rules as short positions? Is there such a thing as having a ‘healthy fear’ in the markets?
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Episode TimeStamps:
00:00 – Intro
02:30 – Macro recap from Niels
03:30 – Weekly review of performance
06:30 – Discussion of Ray Dalio article
10:00 – Jerry’s highlights for the week
12:15 – Discussion of paper on TF speeds
27:00 – Top tweets
58:30 – Questions 1/2: Harsh; Can you have different exits for longs and shorts? Can stop distance adjust dynamically based on profit?
01:06:00 – Question 3: Sebastian; Can you trade without pain/fear if you deeply believe in your approach?
01:14:15 – Benchmark performance update
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