Short Term Trading Weekend Lounge: 6 -8th Apr, page-70

Hi all

I'm reading a few comments that the market has been tough in recent months. If I recall correctly there were similar comments during the first half of last year.

I thought it was worth sharing a recent quote from Peter Brandt, a well known US trader that I follow:

"There is a time to make money in the markets and a time to keep it. Recognizing where you are in this cycle is crucial to long-term profitability. Historically I have made it 4 months per year -- so for 8 months my challenge is to keep it."

No matter what approach you follow, there will always be times when your approach works well resulting in new equity highs, and other times when it doesn't work so well, resulting in drawdowns. Even if trading short term or day trading, I think it pays to understand and accept the above as a reality of trading. I think it was Jesse Livermore who said sometimes the best trade is to do nothing (or sit on the sidelines), and wait until the time is right.

Cheers, Sharks