{"id":94,"date":"2009-10-12T15:35:25","date_gmt":"2009-10-12T14:35:25","guid":{"rendered":"http:\/\/www.futurestechs.co.uk\/blog\/?p=94"},"modified":"2009-10-12T15:35:25","modified_gmt":"2009-10-12T14:35:25","slug":"market-catchphrases-courtesy-of-our-professional-traders-client-base","status":"publish","type":"post","link":"https:\/\/www.futurestechs.co.uk\/news\/2009\/10\/12\/market-catchphrases-courtesy-of-our-professional-traders-client-base\/","title":{"rendered":"Market Catchphrases – Courtesy of our Professional traders client base!"},"content":{"rendered":"

I thought it would be a bit of fun to ask our Professional client base for their favourite market-related catchphrases, and to do a Blog thereon. <\/span><\/p>\n

\n

There were two things that I didn\u2019t realise when I embarked upon this idea. Firstly that there are so many that are rude, and therefore may be tough to incorporate into such a blog, but secondly that so many had valuable lessons for any trader ingrained into their meaning. <\/span><\/p>\n

\n

So here\u2019s a few, and I hope you enjoy this piece, as well as possibly get something out of it! <\/span><\/p>\n

By far and away the one that came put top was (and I really hope this doesn\u2019t offend anyone) \u201cDon\u2019t be a dick for a tick\u201d.<\/strong> Clearly many of my clients have spent many a year working a 15 bid on something only for the market to trade down to 16 then set off on a stonking rally. It is one of the hardest things to deal with as a trader. I\u2019d say it\u2019s probably harder once you\u2019re in a position and looking to get out. Putting an offer in at 30 because FuturesTechs has a level there, only to find out later that it traded 1000 lots at 29 but never got to trade 30 is highly frustrating, especially if this means a potential profit ends up being a scratch or worse. <\/span><\/p>\n

<\/span><\/p>\n

The next one that really seemed to feature amongst answers given was something to do with what \u201cBottom Pickers\u201d <\/strong>get. Apparently this isn\u2019t a very fulfilling pastime. I couldn\u2019t agree more, at least where the market is concerned!! Those who try to buy at the very bottom of a move often get in bother. Whenever I do seminars with people who are new to the City or trading I always try and convey the idea of trading in the direction of the Trend. Markets that are plummeting lower can often keep doing the same for longer than you can stay in your long trade. Actually that was a John Maynard Keynes quote: \u201cThe markets can stay irrational longer than you can stay solvent\u201d. This whole debate doesn\u2019t stop at one catchphrase though. There were plenty of candidates. \u201cDon\u2019t try and catch a falling knife\u201d<\/strong>, or the one I heard in October 2008 \u201cDon\u2019t try and catch a falling fridge\u201d<\/strong>. What you really should try and do is remember that \u201cThe Trend is your Friend\u201d.<\/strong> Just be careful of the \u201cDead Cat Bounce\u201d<\/strong> though, and don\u2019t worry too much about those who tell you to \u201cSell in May and Go Away\u201d <\/strong>\u2013 well not this year anyway! <\/span><\/p>\n

<\/span><\/p>\n

This sort of trading is akin to \u201cPicking up Pennies in front a Steam Roller\u201d<\/strong>. Often people lose so much money on these sorts of ventures that they end up with a \u201cTrade that turns into an Investment\u201d<\/strong>. This is why we need to have stops, as long as we use them. \u201cStops are for buses\u201d<\/strong> is on the \u201cwhat not to do\u201d catchphrase list, along with<\/span> \u201cdouble up to catch up\u201d <\/strong>and \u201cDon\u2019t get out unless it\u2019s a winner\u201d<\/strong> (Very naughty!). <\/span><\/p>\n

<\/span><\/p>\n

The better advice for stopping out trades may be that \u201cThe first cut is the cheapest\u201d<\/strong>. If you end up in a losing trade it\u2019s best to own up and take the loss. Don\u2019t \u201cstick it in the bottom drawer\u201d<\/strong>, after all \u201cDenial is not just a large river in Egypt\u201d<\/strong>! <\/span><\/p>\n

<\/span><\/p>\n

Trading psychology seems to enter the equation for a few phrases as well. The ones that cropped up a few times in our little survey were \u201cDon\u2019t get high on your own supply\u201d<\/strong>, \u201cDon\u2019t get too long of yourself\u201d<\/strong> and \u201cDon\u2019t believe your own publicity\u201d<\/strong>. They all say the same thing, and it\u2019s a really valuable lesson for any trader at any time of their career. The market is the most fantastic leveller, it seems! <\/span><\/p>\n

<\/span><\/p>\n

Finally special mention needs to go to the following responses. <\/span><\/p>\n

<\/span><\/p>\n

\u201cMore Shorts than the front row at a Wham concert\u201d<\/span><\/strong> made me chuckle, as did \u201cHe who finesses, wears frilly dresses\u201d<\/strong>, \u201cScratching is for DJ\u2019s\u201d, <\/strong>and \u201cIf you want to hedge get a Garden\u201d. <\/strong><\/span><\/p>\n

\n

\n

Many thanks to all who proffered replies. It certainly made my Columbus Day go a bit quicker! <\/span><\/p>\n

<\/span><\/p>\n

Have a good week all. <\/span><\/p>\n

<\/span><\/p>\n

Cheers, <\/span><\/p>\n

<\/span><\/p>\n

Clive.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

I thought it would be a bit of fun to ask our Professional client base for their favourite market-related catchphrases, and to do a Blog thereon. <\/p>\n

There were two things that I didn\u2019t realise when I embarked upon this idea. Firstly that there are so many that are rude, and therefore may be tough to incorporate into …<\/p>\n

Read more<\/a><\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[42,89,139,197,199,204,207,210,215,220,226,236,241,243,321,409,467,468,674,530],"class_list":["post-94","post","type-post","status-publish","format-standard","hentry","category-commentary","tag-bottom-pickers","tag-catch-a-falling-knife","tag-dead-cat-bounce","tag-footsie-index","tag-footsie-spread-bet","tag-forex-trading","tag-ftse","tag-ftse-100","tag-ftse-analysis","tag-ftse-futures","tag-ftse-trading","tag-futurestechs","tag-fx-analysis","tag-fx-trading","tag-market-catchphrases","tag-sell-in-may","tag-stop-orders","tag-stop-strategy","tag-technical-analysis","tag-trading-lessons"],"_links":{"self":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/94","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/comments?post=94"}],"version-history":[{"count":0,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/94\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/media?parent=94"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/categories?post=94"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/tags?post=94"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}