Thursday, October 31, 2013

Cool interview with Robert Pardo of Pardo Capital Management

Some neat quotes here. Check it out - link.

"That’s typical of the amateur. They’re willing to take more risks than they actually should, and when they finally get a winner going, it seems so unusual to them that they don’t give it a chance to run"

"One of the really important things about evaluating weightings and risk is that it is your prime determinate of how much money you need to trade a system"

"You can have a good system and still lose money if you don’t know how to trade it with the appropriate amount of capital. The minimum thing you have to do with money management is make sure you don’t overtrade; that you have enough money to weather the storm. The best thing you can do is figure out the ways to leverage your money to the maximum degree and still have enough to survive the worst market downturns."

"Gann had a great statement in one of his many books. He said a doctor goes to school for four years, then he’s an intern for four more years. A lawyer goes to college and then four more years. Why does somebody think that just because they have $10,000, they’re an expert in trading commodities?"

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