The Best Trading Proverbs

This really isn't a proverb on trading, per se, but it's one of my favorite lines about the market and trading in general.

As told by Richard Ney in The Wall Street Jungle:

Clearly the lunatic economics of this larceny (stock market trading) appeal to the criminal. The story is told that after he had been deported to Italy, Lucky Luciano granted an interview in which he described a visit to the floor of the New York Stock Exchange. When the operations of the floor specialists had been explained to him, he said, "A terrible thing happened. I realized I'd joined the wrong mob."

 

Thanks! That's a good one.

 

hahaha to his credit, he is able to recognise his mistake!!!

I am thinking about this question someone had about a gal
"but why on earth is she not interested by any of our "good" offers"...
turn out the gal was into profitable speculation.

 

It's easy to have huge bets on winners. As long as you are prepared to have huge bets on the losers.

 

Thanks as well. For anybody interested, the final season of Boardwalk Empire starts on HBO next month. It includes Lucky Luciano after he organized the American Mafia in the 30s.

 

Not exactly a trading proverb but here it is

 

Trader's first objective is

Capital Preservation

 

"Bulls make money. Bears make money. Pigs get slaughtered. "

"Nobody ever lost money taking a profit." - Bernard Baruch

But George Soros seems to disagree.

"It takes courage to be a pig."

http://www.elitetrader.com/vb/showthread.php?p=3052995&highlight=takes+courage+pig#post3052995

 

"Greed is good."

Gordon Gekko

 

In trading....."Greed is the enemy."

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