Trader Vic Methods Of A Wall Street Master By Victor ^hot^ -

—the idea that if an alligator (the market) bites your leg, you shouldn't try to fight it; you sacrifice the leg (take the loss) to save your life (your capital). Core Trading Philosophies

Published in 1993, "Methods of a Wall Street Master" is a comprehensive guide to trading and investing, detailing Trader Vic's approach to the markets. The book is divided into 12 chapters, covering topics such as: Trader Vic Methods Of A Wall Street Master By Victor

★★★★☆ (4.5/5) Best quote: “The goal of a successful trader is to make the best trades possible. Money is secondary.” —the idea that if an alligator (the market)

It forces you to wait for evidence. You don’t guess tops or bottoms. You let the market prove it is reversing. Money is secondary

He had tried everything. He bought the breakouts that immediately reversed. He shorted the bottoms that turned out to be launchpads. He listened to the talking heads on CNBC, he followed the "guru" newsletters, and he traded on hunches. The market felt like a chaotic beast that knew exactly where his stop-losses were hidden.

Here is how it works for a

: Risk is the primary concern. Before looking at potential profit, always ask, "What potential loss can I suffer?".