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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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 ...
Stock market technique is not an exact science. Stock (and commodities) prices are made by the minds of men (and women).
- Richard Wyckoff
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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 ...
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 ...
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 ...
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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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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The question isn’t “Is the market efficient?” but rather “How inefficient is the market?” and “How can we exploit this?”
- Edward Thorp
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