O'Reilly logo

Trade with the Odds: How To Construct Market-Beating Trading Systems, + Website by Anthony Trongone, PHD, CFP, CTA

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 15

Formulating Trading Decisions

I haven’t failed. I’ve just found 10,000 ways that won’t work.

—Jimmy Durante, aka “The Great Schnozzola”

The emphasis of this chapter is on the process of making your trading decisions. It starts with controversy by questioning the benefits of using protective stop orders.

Prevent Excessive Bloodletting

Amid the consensus among market strategists to take a defensive stance, simply questioning the absence of a protective stop order invites criticism. Before addressing this contentious topic, would you accept the premise that although protective stop orders can be effective, they frequently misfire?

The primary reason for supporting the use of a backstop is to offset your position before a minor loss turns ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required