The smart money always loses money shorting bubbles because they cannot comprehend that it could go as high as it does.
- Jim Rogers
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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 ...
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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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 ...
There is no holy grail, and there is no magical system. You have to win the battle within you first before you can win with the markets.
– Maria Psarra
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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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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
Economics is in many respects the queen of the soft sciences. It’s expected to be better than the rest. It’s my view that economics is better at the multi-disciplinary stuff ...
You don’t want to hold a position when you don’t understand what’s going on. That doesn’t make any sense.
- Bill Lipschutz
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It is not that we had any unfair knowledge that other people didn't have, it is just that we did our homework. People just don't want to believe that anyone ...