January 22, 2014
News: Glenn Neely Offers Essential Strategies for Successful, Long-Term Trading
In a new interview, NEoWave's Glenn Neely details his step-by-step approach to reduce risk, minimize losses, and let profits run
January 22, 2014 – In a new interview, internationally known trading expert Glenn Neely, founder of NEoWave, Inc., underscores the importance of capital preservation for long-term trading success and details his step-by-step approach to reduce risk, minimize losses, and let profits run – strategies anyone can implement to improve their trading.
In this practical discussion, available on the NEoWave website, Glenn Neely underscores the importance of capital preservation for long-term trading success. He points out that, as a trader, there are several things you DON'T want to do:
Click to hear this 15-minute interview.
- Don't spend time trying to predict a market's future – "Traders and investors must understand that trading is not about what you believe is going to happen in a market – it's about what is actually happening in that market," Neely says. He advises traders to focus on the present instead of trying to predict the future.
- Don't put too much capital at risk – "First, control risk. Second, avoid loss." Neely adds: "Never risk more than 2% of capital on any given trade, because it's extremely difficult to make up for past, large losses. Keep risk at 1% if you're new to trading."
- Don't let profitable trades turn into losing trades – "Use a strategy that helps you manage your emotions – a strategy that does not involve market prediction. Predictions connect your ego to the result, which causes people to favor protecting their ego over protecting their money," Neely explains. "Don't focus on being right; focus on making money!"
About Glenn Neely and NEoWave, Inc.
Glenn Neely, internationally regarded as a premier Elliott Wave analyst and trading expert, has devoted nearly 30 years to refining, mastering, and advancing the concepts of Wave theory to make it scientific, objective, and logical. Glenn Neely's now-famous NEoWave technology is a precise, step-by-step assessment of market structure, which leads to more accurate Wave analysis, as well as low-risk investing and trading with demonstrated returns. Analysts, professional investors, and traders worldwide trust NEoWave's Trading and Forecasting services for market forecasting and wise trading advice on the S&P, Euro, T-Notes, and Gold markets.
To learn more about Glenn Neely and the NEoWave Forecasting and Trading Services visit the NEoWave