Trend trading strategies are very valuable as a trader. The term the trend is your friend is fitting when trading stocks. Knowing how to identify the trend is very important because it gives important clues for entries and exits when trading.
"Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend."
-Richard Dennis.
“Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”. I am primarily a trend trader with touches of hunches based on about twenty years of experience. In order of importance to me are: (1) the long-term trend, (2) the current chart pattern, and (3) picking a good spot to buy or sell. Those are the three primary components of my trading. Way down in a very distant fourth place are my fundamental ideas and, quite likely, on balance, they have cost me money.” – Ed Seykota
“I’ve learned many things from him , but perhaps the most significant is that it’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – Stanley Druckenmiller
“I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, “I just lost my money, now I have to do something to make it back.” No, you don’t. You should sit there until you find something.” – Jim Rogers
“Play the market only when all factors are in your favor. No person can play the market all the time and win. There are times when you should be completely out of the market, for emotional as well as economic reasons.” – Jesse Livermore
“Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I’m getting out before I get in. The position size on a trade is determined by the stop, and the stop is determined on a technical basis.” – Bruce Kovner
"Amateurs think about how much money they can make. Professionals think about how much money they could lose."
–Jack Schwager.
"The price of a commodity will never go to zero. When you invest in commodities futures, you are not buying a piece of paper that says you own an intangible of the company that can go bankrupt."
–Jim Rogers.
"It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their real value is recognized."
-John Neff.
"We don't care about 'why'. Real traders only have the time and interest to care about 'what' and 'when' and 'if' and 'then'. 'Why' is for pretenders."
-JC Parets.
"You only have to do very few things right in your life so long as you don't do too many things wrong."
-Warren Buffett.
"The goal of a successful trader is to make the best trades. Money is secondary."
-Alexander Elder.
"Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong."
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