No Links were listed yet. Go ahead and share!
Hello, my name is Scott Manzo. I am a co-owner of Weston Trading Group here on Weston, Florida and I've been a Lightspeed customer since the firm had started and actually a little bit before. I'm the head trader here and I just wanted to give you guys some tips and some other things that I felt made me successful over the years.
We have proprietary software here at Weston Trading. It links up to our Lightspeed and our charts and so forth, and it’s all linked together. I have a system that I trade and one of the important things I’d like to stress to you is you have to identify who you are as a trader, stick to your discipline, stick to your system and don’t make exceptions.
I only trade the best setups. That means on certain days, I may be in 20 trades, 10 trades. There are days when I only have one trade, two trades, three trades. I never sacrifice quality for quantity, only the best stuff at all times. Patience, discipline, very, very important. When you are doing nothing, you’re actually doing something. You’re just choosing to do nothing. When you take on bad trades and you turn yourself to pieces and you’re in stocks when you shouldn’t be, you’re going to miss the move that’s going to make you the money, so use patience, have discipline.
Most important rule in trading is knowing how to lose, just like in baseball. You can go to the hall of fame batting 300. In trading, you have to lose to make money. The key is to know how to lose. Only lose a little bit of money. Lose fast, lose quick. If what you’re doing isn’t working the way you think it should right away, get out and if you don’t make, it’s not a problem. The key is not to lose.
Lastly, one of the important things is stay mellow. Don’t let your emotions get involved. Those are my basic fundamentals that have helped me become a successful trader and hopefully, you can incorporate them into your trading. Good luck!
Transcription by:
Scribe4you Transcription Services