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
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 ...
Don't be a hero. Don't have an ego. Always question yourself and your ability.
Don't ever feel that you are very good. The second you do, you are dead.
- Paul ...
Traders often repeat the same mistakes over and over, acting on triggers that have served them poorly time and time again even as they continue to expect a tidy profit ...
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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People who fight change are fighting inevitability itself.
- Jim Rogers
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Jim Rogers on Change by DaytradingBias.com
Don’t let the outcome of one trade alter your trading discipline. One trade doesn’t make a system.
- Vadym Graifer & Christopher Schumacher
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Never risk more than 1% of your total equity in any one trade.
By risking 1%, I am indifferent to any individual trade.
Keeping your risk small and constant is absolutely critical.
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Patience is the key to success not speed.
Time is a cunning speculator's best friend if he uses it right.
- Jesse Livermore
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Jesse Livermore ...
If you want to have better performance than the crowd, then you must do things differently from the crowd.
- Sir John Templeton
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Participants act not on the basis of their best interests but on their perception of their best interests, and the two are not identical.
- George Soros
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