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Quotations by Marcel Link
"lmost #$ percent o% all commodit& traders and those 'ho
da& trade e(uities lose mone&) "s a trader trades* the%irst
%e' &ears 'ill +e %illed 'ith countless mistakes) To trade
success%ull& one needs to consistentl& make tradesthat
o%%er lo' risk compared to the re'ard) ,-$$./Marcel Link
For the most part high pro+a+ilit& trades are made onl&
in the direction o% the ma0or trend) 1% the market isuptrending* a
trader 'ill 'ait %or a dip and test some support le2el +e%ore
entering) ,-$$./Marcel Link
No matter 'hat one ma& ha2e read in a +ook or ho' long one
has paper traded* as soon as a person startstrading %or real*
e2er&thing changes) Mistakes one ne2er e2en thought o% start
popping up le%t and right* and the+est 'a& to a2oid making them
is to make them* lose mone&* reali3e the& 'ere mistakes*
and consciousl& +ea'are o% them the net time the same
situations arise) " trader needs a+out . to 4 &ears to get
through thelearning period) One should ha2e a minimum o% 5-4*$$$ to
54$*$$$* a .6&ear hori3on* and a 2er& understandingspouse)
,-$$./
Marcel Link
One o% the reasons institutional traders succeed +etter than
does the a2erage trader is that the& ha2e much morecapital
+ehind them) The& can and do make the same mistakes +ut don7t
ha2e to 'orr& that one mistake 'ill endtheir careers8 'ith
capital and management +ehind them* the& can sur2i2e those
mistakes) ,-$$./Marcel Link
9hen a trader %irst starts out* he needs to remem+er that it7s
not ho' much &ou make +ut ho' little &ou lose thatkeeps
&ou in the game) ,-$$./Marcel Link
The +est hedge %und managers and pro%essional traders are
ecstatic 'hen the& achie2e a .4 percent return %orthe &ear)
,-$$./Marcel Link
9hat is the minimum amount someone should trade 'ith: " sa%e +et
'ould +e a+out 5-4*$$$ to 54$*$$$ %or
%utures and 5;$$*$$$ %or e(uities) 9hen trading 'ith these
amounts it7s reasona+le %or a decent trader to epectto make a+out
54$$$ to 5;$*$$$ per month in a good month 'hile still +eing
some'hat conser2ati2e in histrading) ,-$$./Marcel Link
172e +een using TradeStation as m& charting plat%orm %or
&ears)1t gi2es me the a+ilit& to 'rite and test s&stems
andthen keep track o% them* alerting me an&time the&
generate a signal) 1t allo's one to create indicators and 'riteand
test s&stems 'ith historical data +e%ore risking real
mone&) 1t is the industr& standard %or the serioustrader)
,-$$./Marcel Link
1 keep CNBC on all da&) 1t keeps me in%ormed on 'hat the
market is doing and 'hat it has done +ut* un%ortunatel&*not on
'hat it 'ill do) ,-$$./Marcel Link
17m a staunch +elie2er in using technical anal&sis as the
main method o% trading* +ut 1 still think it7s important to
kno' 'h& the market is doing 'hat it is doing) ,-$$./Marcel
Link
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9hen price mo2es 'ith strong 2olume* the market is more
likel& to %ollo' through* 'hether it is a re2ersal or amatter
o% %ollo'ing the trend) 1% price mo2es up 'hile 2olume increases* a
trend is more likel& to sta& strong) 9hen2olume +egins to
'ane* it could indicate that e2er&+od& 'ho 'ants to +e long
alread& is) ,-$$./Marcel Link
B& looking at >$6minute charts* a short6term trader
ma& +e a+le to catch stronger* more sta+le mo2es and seethings
that are not apparent on a 46minute chart) One can gain a lot
+& looking at dail& and 'eekl& charts +ecausethe
patterns there are e2en more signi%icant and can indicate 'here the
real momentum o% the market is) ,-$$./Marcel Link
B& looking at the higher time %rames one can see 'hat the
direction o% the ma0or trend is and 'here the supportand resistance
le2els are) The >$6minute time %rame is etremel& important
+ecause 1 think it de%ines the
intermediate ,- to 4 da&s/ mo2e) B& trading in its
direction* 1 +elie2e &ou 'ill get the most momentum out o%
atrade* as long as there is no support or resistance le2el or it is
not in o2er+ought or o2ersold territor&) 1t is mucheasier to
'ait %or an opportune moment to enter a trade and control risk
+& using the ;6* 46* and ;$6minutecharts) ,-$$./Marcel Link
Once near+& support or resistance le2els ha2e +een +roken
and &ou are sti ll in the trade* look at the net higherma0or
time %rame to get a more signi%icant support or resistance le2el)
The %arther out &ou go* the +etter the stop'ill +e +ut the more
it 'ill cost &ou i% it is hit) ,-$$./Marcel Link
The monitoring time %rame should +e a+out 4 to ;- times higher
than the one &ou are most com%orta+le looking at)9hen 17m
da& trading* 1 tend to look mostl& at 46minute charts* in
'hich case 17ll use >$ minutes as m& +asis tomake and
monitor trades) ,-$$./Marcel Link
1% &ou trade multiple contracts* one thing &ou can do is
put on a portion o% &our normal position 'hen &ou get
asignal in a shorter time %rame) 1% it is 'orking and &ou get a
signal in the net time %rame* add to it8 i% &ou later
getanother signal in an e2en higher time %rame* add to it again)
B& doing this &ou can +uild into a position and geton+oard
earl& to catch a larger part o% the mo2e) 1% the trade doesn7t
'ork* &ou lose onl& a portion o% 'hat &ounormall&
'ould risk* and 'hen the time comes 'hen e2er&thing is 'orking
in s&nc* &ou 'ill ha2e a larger position'orking %or
&ou) ,-$$./Marcel Link
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