David Blair, writer of The Crosshairs Trader blog, has compiled a list of simple, yet very fundamental truths for stock traders based on the letters of the alphabet. David is also the author of the excellent trading e-book, When 10 is Greater than 90.

A wise man chooses to do in the beginning what the fool is forced to do in the end.

Better to be wrong and rich than right and broke.

Create an atmosphere of confidence and you will never choke on the bone of contention.

Develop an edge and stick to it. If you are not living on the edge then you are falling off of one.

Enter the market prepared or you will exit impaired.

Forget the last trade or the market will steal your next one.

Giving in to

Steve Jobs took the stage today as he unveiled new IPODS for Apple Inc.  Jobs recently returned to work after a six month leave of absence to recuperate from a liver transplant.  While analysts and investors speculate on Jobs’ health and his future at Apple, I simply wish to revisit my very first post as THE CROSSHAIRS TRADER wherein I focused on Jobs as an inspiration for all of us. 

If you have never heard this speech I suggest you take a few minutes to do so now; if you have, listen again as Jobs provides encouragement that is applicable to us traders and serves as an ever present  reminder about how we should take advantage of all the opportunities that may come

I recently had the privilege of interviewing Mr. Charles Nenner, president and founder of the Charles Nenner Research Center.  I have posted several articles here highlighting Mr. Nenner’s recent market predictions and even conducted an interview with David Gurwitz, Managing Director of the Charles Nenner Research Center but this is my first interview with Nenner himself.

In my 40 minute phone interview, Mr. Nenner discussed a wide range of topics.  Following are just a few of the topics covered:

1.  How cycles are calculated and how traders can best use these cycles to catch 6-8 week moves in the market.

2.  His explanation of a recent quote “I deal with what is going to happen and then I deal with why it is going to happen.”

3.  His “top down approach” to trading.

4.  His understanding

I receive numerous emails about my site and appreciate every one of them regardless of content.  Just knowing that THE CROSSHAIRS TRADER is reaching out and positively affecting the lives of others reinforces my belief that preparing yourself for battle is best accomplished by keeping things simple.

With that in mind, I am posting the following unsolicited testimonial in its entirety.  It is simple and to the point but boy does it speak volumes! 

Thanks to what I have learned on your site, I have developed:

1.  A very simple, uncomplicated approach.

2.  I trade only when I see the pattern that works for me.

3.  Every trade has: (a) a clear, near exit; and (b) a stop.

4.  I repeat the same trade day after day — except for days

     when I don’t find my preferred pattern. Then I stand aside.

I’m

If you have been reading this blog for a while you know that THE CROSSHAIRS TRADER promotes simplicity.  Am I alone in thinking this way?  I do not believe so!  I would hazard to guess that most all, if not all, professional traders believe that successful trading boils down to having and following a very simple set of rules. 

Here is a very short list of comments from very reliable sources—successful professional traders.

John F. Carter:  “It is important to remember that there is no need to spend wasted years looking for complicated setups or the next Holy Grail.  There are very simple setups out there to use.  Some of the best traders I know