Trading Maxims/Quotes

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,
Commisso

 

--"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical (technical) formations and patterns recur on a constant basis."

--"The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor."

--Don't take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don't be an impatient trader.

--"It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind."

--"Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes."

--"When a margin call reaches you, close your account. Never meet a margin call. You are on the wrong side of a market. Why send good money after bad? Keep that good money for another day."

--"Successful traders always follow the line of least resistance. Follow the trend. The trend is your friend."

--A prudent speculator never argues with the tape. Markets are never wrong--opinions often are.

--Few people succeed in the market because they have no patience. They have a strong desire to get rich quickly.

--"I absolutely believe that price movement patterns are being repeated. They are recurring patterns that appear over and over, with slight variations. This is because markets are driven by humans--and human nature never changes."

--When you make a trade, "you should have a clear target where to sell if the market moves against you. And you must obey your rules! Never sustain a loss of more than 10% of your capital. Losses are twice as expensive to make up. I always established a stop before making a trade."

--"I am fully aware that of the millions of people who speculate in the markets, few people spend full time involved in the art of speculation. Yet, as far as I'm concerned it is a full-time job--perhaps even more than a job. Perhaps it is a vocation, where many are called but few are singled out for success."

--"The big money is made by the sittin' and the waitin'--not the thinking. Wait until all the factors are in your favor before making the trade."

PEACE and good trading,
Commisso

 

"Trade what you see, Not what you think"

 

"It's not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change."

---Charles Darwin

 

"The best traders not only take the risk, they have also learned how to accept and embrace that risk"

Mark Douglas ... Trading in the Zone

 

Memorable Quotes from Reminiscences Of A Stock Operator
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=14146702
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=14147363

 

"Everything should be made as simple as possible, but not simpler"

Albert Einstein

 

"What is true of archery and swordsmanship also applies to all other arts. Thus, mastery in ink-painting is only attained when the hand, exercising perfect control over technique, executes what hovers before the minds eye at the same moment when the mind begins to form it, without there being a hair bredth between. Painting them becomes spontaneous calligraphy. Here again the painter's instructions might be: Spend ten years observing bamboos, become bamboo yourself, then forget everything and -- paint"

Eugen Herrigel ---- Zen in the Art of Archery

 

"If one realy wishes to be a master of an art, technical knowledge of it is not enough. One has to transcend technique so that the act becomes an "artless art" growing out of the unconscious"

D.T. Suzuki --- Zen Buddhism

 

-----------, at last you win or lose,


try to get a good weapon, a good plan, keep a good mindset, you will win and make a lot of money