Trading Maxims/Quotes II

Discussion in 'Politics & Religion' started by Commisso, Jun 7, 2002.

  1. Commisso

    Commisso Guest

    I would like to start an ongoing thread where traders can post quotes/maxims that they feel pertain to the game of trading.....

    Feel free to post ANY quote that pertains to trading, but for the sake of a clean thread lets try not to have an ongoing discussion of them...JUST THE QUOTES!

    PEACE and good trading,
  2. Commisso

    Commisso Guest

    "I am not a professional security analyst. I would rather call myself an insecurity analyst..."

    "I couldn't recognize my mistakes if I couldn't forgive myself. To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride. Once we realize that imperfect understanding is the human condition, there is no more shame in being wrong, only in failing to correct our mistakes..."

    George Soros
  3. monee


    But I knew how and why-- because I traded out of season all the time;because when I couldn't play according to my system which was based on study and experience,I went in and I gambled.I hoped to win,instead of knowing that I ought to win on form.
  4. Commisso

    Commisso Guest

    " No amount of observations of white swans can allow the inference that all swans are white, BUT the observation of a single black swan is sufficient to refute that conclusion"

    David Hume -- Treatise on Human Nature
  5. with all thy getting, get thee understanding

  6. Commisso

    Commisso Guest

    "...I will therefore state the following argument. If the science of statistics can benefit me in anything, I will use it. If it poses a threat, then I will not. I want to take the best of what the past can give me without its dangers. Accordingly, I will use statistics and inductive methods to make aggresive bets, but I will not use them to manage my risk and exposure..."

    ~Nassim Nicholas Taleb~
  7. Tom Baldwin:

    You don't need any education at all to do it. The smarter you are, the dumber you are. The more you know, the worse it is for you.
  8. Paul Tudor Jones:

    "Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever think you are very good. The second you do, you are dead.

    Jesse Livermore, one of the greatest speculators of all time, reportedly said that, in the long run, you can't ever win trading markets...The idea that you can't beat the markets is a frightening prospect. That is why my guiding philosophy is playing great defense. If you make a good trade, don't think it is because you have some uncanny foresight. Always maintain your sense of confidence, but keep it in check."
  9. A 30 year veteran floor trader:

    "No matter how solid or successful an approach to the market is, a trader is only going to 'allow' himself as much money as he feels is entitled to - regardless of his conscious intentions. Taking responsibility for our successes and failures is an important step in successful trading. Because fear, either of failure or success, can carry an unconscious, hefty price."
  10. ''Largest rallies in the last 50 years have come during bear markets''

    Thru;M.S Weiss,quoting from John Rothchild 's ''Bear Book''
    #10     Jun 8, 2002