Words of wisdom that give you perspective in your trading.

Sometimes in the low points it's good to reflect on the words of others to help motivate or give you perspective. I like to add quotes, proverbs, etc like these at the front of my trading journal so I may reflect on them before I start my day. Sounds cheezy but it helps me keep my perspective in situations. I'll list some of my favorites and hope others will as well.

 

this kind of wisdom is useless. everyone can find bunch of them from google, yet few people are successful in trading.

 

The only thing useless here is your comment. I didn't ask for other people. I asked for myself. If you don't find it useful great. Move onto the next thread rather than cluttering up one with comments that have no use in the given thread.

 

words suffer from the weakness of words; use math analysis to find best opportunity for trades,

 

This one i say to myself often 'your first loss is the best loss'.

 

" The man who doubts his power gives power to his doubts "

"A bad beggining makes for a bad ending"

"Every step makes a footprint"

"You can't judge a book by its cover,"

"The man who takes break from work, works to make up for break"

"Give a man a fish you feed him for a day, teach a man to fish and you feed him for a lifetime"

"A dog has 4 legs"

"Every house is built on a foundation"

"The man who talks badly of others will have others talking badly of him"

There's a lot more but I can't think of them right now

 

1. "Trade what you KNOW".. not what you hope, think, expect, fear, etc.

2. The only thing you KNOW (or possibly can ever know) is what you see on the chart... that's "Price TA". Ever heard of it?

3. IOW... "Trade with your eyes"... nothing else.

Stops, of course. KISS, baby!

 

trade small for many years until you find your way

 

I am impatient and impulsive at times, so I like Jesse Livermore's quote; "it was not my buying an selling that made me money, but my sitting, sitting on my hand." During the crash, Livermore sat on a 6-million dollar loss before he made his $100 million (worth a few billion today). Ain't that something?

Livermore was bipolar and autistic (he could remember and formulate a mental picture of days worth of a ticker tape) when manic he spent it on luxury and women, also he traded recklessly.

 

I like the story of Jesse Livermore. Really a pretty fascinating life story. Tragic ending for both him, his son, and his grandson.