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Once he has a net profit on a trade equal to 1% of his total equity, Brandt will take partial profits. Once a trade gets within 30% of his profit target, Brandt will employ much closer stop protection.
Jack D. Schwager • Unknown Market Wizards: The best traders you've never heard of
interesting that all of Dan’s advice deals with risk management, and none of it has anything to do with trade entry, which is what most people want to focus on.
Jack D. Schwager • Unknown Market Wizards: The best traders you've never heard of
“Strategy is accepting that you are doing something better than the other and the other is doing something better than you. You have to pick your fight.”
- Axel Dumas, CEO of Hermes
Steve Jobs about go to market strategy
youtu.bePeter Thiel, Blake Masters • Zero to One
The essence of Brandt’s strategy is to risk very little on any given trade and to restrict trades to those he believes offer a reasonable potential for an objective that is three to four times the magnitude of his risk.
Jack D. Schwager • Unknown Market Wizards: The best traders you've never heard of
