Holding cash is uncomfortable, but not as uncomfortable as doing something stupid.
– Warren Buffett
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Warren Buffett on Cash by DaytradingBias.com
One common adage...that is completely wrongheaded is: You can't go broke taking profits.
That's precisely how many traders do go broke.
While amateurs go broke by taking large losses, professionals go broke ...
Successful traders isolate themselves from the opinions of others.
- Linda Bradford Raschke
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Linda Bradford Raschke on Opinions by DaytradingBias.com
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 ...
Greed, Fear, Impatience, Ignorance, and Hope will all fight for mental dominance over the speculator. Then, after a few failures and catastrophes the speculator may become demoralized, depressed, despondent, and ...
Markets can remain irrational longer than you can remain solvent.
- John Maynard Keynes
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John Maynard Keynes on Irrational Markets by DaytradingBias.com
The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money ...
The game taught me the game. And it didn’t spare me the rod while teaching.
- Jesse Livermore
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Jesse Livermore on Game by ...
The markets are the same now as they were five or ten years ago because they keep changing — just like they did then.
- Ed Seykota
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There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of ...