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 ...
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 ...
The constant monitoring and obsessive reasoning behind moves in a portfolio will never allow you as an investor to allow your profits to run.
- Ali Meshkati
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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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Beware of large positions that can control your emotions. Don’t be overly aggressive with the market. Treat it gently by allowing your equity to grow steadily rather than in bursts.
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Being wrong is acceptable, but staying wrong is totally unacceptable.
Being wrong isn’t a choice, but staying wrong is.
- Mark Minnervini
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Mark Minnervini ...
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 ...
To be a super-trader, you'll need an edge to overcome the laws of probability and the uncertainty of the marketplace. That edge comes from information flow, the ability to correct ...
Don’t overestimate the skill and wisdom of professionals.
- Peter Lynch
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Peter Lynch on Professionals by DaytradingBias.com
In trading, you can’t hide your failures. Your equity provides a daily reflection of your performance. The trader who tries to blame his losses on external events will never learn ...