More than anything else, what differentiates people who live up to their potential from those who don’t is a willingness to look at themselves and others objectively.
- Ray Dalio
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Getting excited by gains in a trade is the first step toward getting panicky when those gains are threatened.
- Dr. Brett Steenbarger
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It's not about being right or wrong, rather, it's about how much money you make when you’re right and how much you don’t lose when you’re wrong.
– George Soros
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The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade
- Bruce Kovner
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People who fight change are fighting inevitability itself.
- Jim Rogers
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Jim Rogers on Change by DaytradingBias.com
The best investors talk about being keenly aware of what they know and don’t know. Mediocre or dishonest investors pretend they know. Bad investors don’t even know they don’t know.
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When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more ...
Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.
- Dr. Brett Steenbarger
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A simple, albeit less than optimal, investment strategy that is easily followed trumps one that will abandoned at the first sign of under-performance.
- Tadas Viskanta
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They trade too much. They don’t pick their spots selectively enough. When they see the market moving, they want to be in on the action. So, they end up forcing ...