Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight. If he does not, he is gambling. – Richard Wyckoff
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 ...
I don’t think you can consistently be a winning trader if you’re banking on being right more than 50 percent of the time. You have to figure out how to ...
Take home runs when you can, but don’t beat yourself up about missing a few. One trade should never make or break your account.
- Vadym Graifer & Christopher Schumacher
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Accept both your profits and regrets. It is best to seize what comes to hand when it comes, and not expect that your good fortune and the favorable circumstances will ...
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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... if you cannot accept that losses will occur, then you cannot accept a good trading system that will make a lot of money in the long run but might ...
It wasn't anything to be proud of, when you think that I had been broke three times in less than two years. And being broke is a very efficient educational ...
We are in the business of making mistakes. The only difference between the winners and the losers is that the winners make small mistakes while the losers make big mistakes.
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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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The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
- Linda ...