Peter Robbins ( @prrobbins ) Twitter Profile

prrobbins

Peter Robbins

Swing/Trend Trader with 40+ years of experience who likes to share trading ideas and hard learned words of wisdom. Tweets opinions only.

Oakville, Ontario

Joined on 28 December, 2008

http://thewaytotrade.blogspot.com/

  • 70 Tweets
  • 81.6k Followers
  • 6.3k Following

A great system is useless without the right mindset to trade it.

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You always want to buy stocks that are worth more then they are currently trading at but not until other’s also recognize it and start bidding up the price. Stocks can stay undervalued for a long time. No sense getting to the party before it begins.

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Successful traders remain positive no matter what the outcome of their trades knowing that in the long run the expectation is positive. Unsuccessful traders beat them selves up after every losing trade.

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Just because you initiate a trade based on someone else’s idea does not take away your responsibility for its outcome.

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They say “Fool me once, shame on you; fool me twice, shame on me”.

What do you say when the market fools you on a daily basis?

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Your gut feelings will be reliable only after getting punched in them many times and by then your gut feelings will be telling you to ignore your gut feelings.

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Instead of adding another technical indicator to your chart try adding an internal mental indicator to your toolkit.

Being able to monitor and interpret your own personal psychological reactions to price action is a powerful tool.

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Many investors are holding positions with significant paper profits due to the strong trends in the last 6 months.

Not wanting to sell and trigger taxes yet nervous about retracements has posed a conundrum.

What would you do in this situation?

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Setting short term profit goals in most businesses is effective but in trading not so much. Trading results are usually a result of what the market offers at the time not correlated to the work you put in.

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Institutional traders edges include complex computer algorithms, experienced analysts and great relationships with the management of the companies they follow. Retail traders edge is usually being able to identify what institutional traders are doing.

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Book Recommendation

Many seeking to master the art of trading may find Paulo Coelho’s @Paulocoelho new book “The Archer” a great addition to their trading library.
 A simple fable with meaningful lessons for trading and for life.

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We enter a trade when the conditions are ideal. We don’t hold back from fear of making a mistake or rush forward from fear of missing an opportunity.

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Traders must learn to be rigid in their processes but remain flexible in their actions.

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If you are going to trade the most important person to follow is yourself.

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What is your preference to buy?

Strong stock in strong sector.

Weak stock in strong sector.

Strong stock in weak sector.

Weak stock in weak sector.

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Traders can spend a lot of time in their pursuit of a return on their capital.

What are you doing to maximize your return on invested time?

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Learn to trade in the moment no matter what your timeframe.

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The lower your time frame the higher the chance of breaking your rules.

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Quoted @TwoBlokesTrade

Check out final episode of Equities Month here on TBT: Great chat with @prrobbins on #Equities Technical #Trading

Thanks guys. Enjoyed the chat.

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