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some interesting trading quotes

i agree totally with that.

In addition, Risk vs Reward should always be the focus.

eg. for 1R of $ risk, there should be at least 3R of profit potential, otherwise the trade is abandoned.

R => $ that is being risked.

 

Here's my personal favorite -

Amatuers are concerned with how much money they can make. But professionals are concerned with how much they can lose.


 



Meaning ... always use a stop to limit your losses. Use them stringently and do not be afraid to cut loss.  

 

Hi all,

Here's a couple of philosophies of trading that I abide by which may inspire you,

Wall Street never changes, the pockets change,
the suckers change, the stocks change,
but Wall Street never changes because human nature never changes.
~ Jesse Livermore

Observation, experience, memory and mathematics -
these are what a successful trader must depend on.
- Jesse Livermore

"I measure what's going on, and I adapt to it. I try to get my ego out of the way. The market is smarter than I am so I bend."
-- Martin Zweig

In the I Ching, the Tao of I is:
Everything is in a process of continuous change,
Rising and falling alternately
In a progressive, spiral, evolutionary afvancement.

When one door closes another door opens; but we so often look so long and so regretfully upon the closed door, that we do not see the ones which open for us.
--Alexander Graham Bell


"People only see what they are prepared to see"
- Ralph Waldo Emerson

"To be a money master, you must first be a self-master"
- J. P. Morgan

"You've got to learn how to fall, before you learn to fly"
- Paul Simon

"What is stupid is to pretend you are smart.
When you pretend to be smart, you are at the height of stupidity"

Making an investment decision is like formulating a scientific hypothesis
and submitting it to a practical test.
- George Soros

"Our greatest glory is not in never falling, but in rising every time we fall."
- Confucius, Chinese philosopher (551-479 BC)

The principles of successful stock speculation are based on the supposition that
people will conitnue in the future to make the same mistakes that they have made in the past
- Thomas F. Woodlock

Experience never errs;
it is only your judgement that errs in promising itself results
as are not caused by your experiments.
- Leonardo Da Vinci

People's thinking lays a dual role:
It is both a passive reflection of the reality they seek to understand and
an active ingredient in shaping the events in which they participate.
- George Soros

Speculation, in its truest sense, calls for anticipation.
- Richard D. Wyckoff

Avoiding mistakes makes people stupid and having to be right makes you obsolete.
- Robert Kiyosaki

Best Regards,
 
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