Quotes of All Topics . Occasions . Authors
Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.
If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money.
Systems don't need to be changed. The trick is for a trader to develop a system with which he is compatible.
My style is basically trend following, with some special pattern recognition and money management algorithms.
I take the point of view that missing an important trade is a much more serious error than making a bad trade.
Nobody knows everything that's hidden in the balance sheets of banks. In fact, they are completely impenetrable.
I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.
There is no more compassionate and effective way to help poor people in New York City than to give to Robin Hood.
The markets are the same now as they were five or ten years ago because they keep changing-just like they did then
We believe we can train any intelligent, quick thinking person to be a trader. We feel traders are made, not born.
Given the nature of market, the chance of a crash is always greater than the chance of an overnight runaway euphoria.
Perhaps my number one rule is: Don't try to make a profit on a bad trade, just try to find the best place to get out.
Psychology motivates the quality of analysis and puts it to use. Psychology is the driver and analysis is the road map.
I only know one thing: Everything I learned about the banking business, I learned in the banking towers of the Societe.
My aim was to make money for the bank. You lose track of the amounts involved when you are engaged in this kind of work.
Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.
It's much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies.
Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top.
In order of importance to me are: 1) the long term trend, 2) the current chart pattern, and 3)picking a good spot to buy or sell.
I miss New York. I like the country and I like the people. However, the U.S. political and legal system is prone to overreaction.
I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have
The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.
Don't think about what the market's going to do; you have absolutely no control over that. Think about what you're going to do if it gets there.
Luck plays an enormous role in trading success. Some people were lucky enough to be born smart, while others were even smarter and got born lucky.
Imbalance or abnormity is never so dangerous as when it is widely perceived or accepted as being normal. The worst thing you can do is not to try.
If you ever find yourself tempted to seek out someone else's opinion on a trade, that's usually a sure sign that you should get out of your position.
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.
After awhile size means nothing. It gets back to whether you're making 100% rate of return on 10k or 100 million dollars. It doesn't make any difference.
The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.
The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.
Markets are fundamentally volatile. No way around it. Your problem is not in the math. There is no math to get you out of having to experience uncertainty.
The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
When I became a winner, I said, 'I figured it out, but if I'm wrong, I'm getting the hell out, because I want to save my money and go on to the next trade.'
It's very difficult to be different from the rest of the crowd the majority of the time, which by definition is what you're doing if you're a successful trader.
When you get a range expansion, the market is sending you a very loud, clear signal that the market is getting ready to move in the direction of that expansion.
And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control.
My only goal was to make the largest profit possible for my employer. I was caught in a spiral that - with the support of my bosses - continued to lead up and up.
I think the leading cause of financial disablement is the belief that you can rely on the experts to help you. Investing requires an intense personal involvement.
I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out; if they are going for me, I keep them.
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 a bear market.
Being a successful trader also takes courage: the courage to try, the courage to fail, the courage to succeed, and the courage to keep on going when the going gets tough.
As I've told my three daughters, all of whom I've at one time encouraged to go into macro trading, any man or woman can do anything to which they set their heart and mind.
You can not have significance in this life if it is all about you. You get your significance, you find your joy in life through service and sacrifice - it's pure and simple.
A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That's the kind of thing winning traders do.
It’s all about sticking to your plan and experiencing feelings as they arise. If you are unwilling to feel your feelings, the temptation is to avoid them by jumping off your system
Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.
I believe my most important skill is an ability to perceive patterns in the market. I think this aptitude for pattern recognition is probably related to my heavy involvement with music.
I always laugh at people who say "I've never met a rich technician" I love that! Its such an arrogant, nonsensical response. I used fundamentals for 9 years and got rich as a technician
The good traders are the ones who can hold their ground the majority of the month and participate in that small handful of trades that are windfalls. The real skill is in not LOSING money!
There are too many unpredictable things that can happen within two months. To me, the ideal trade lasts ten days, but I approach every trade as if I'm only going to hold it two or three days.