The most important rule of trading is to play good defence, not great offence.
- Paul Tudor Jones
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Paul Tudor Jones on Defense ...
I think to be in the upper echelon of successful traders requires an innate skill, a gift. It’s just like being a great violinist. But to be a competent trader ...
The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade
- Bruce Kovner
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I know from experience that nobody can give me a tip or series of tips that will make more money for me than my own judgement.
- Jesse Livermore
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It is not important that the basic value of the shares be practically nothing as long as there are other people willing to close their eyes and support those contradictions.
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You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael Marcus taught me about making your best judgment, being wrong, making your next best ...
There can be a huge gap between what you understand about the markets and your ability to transform that knowledge into consistent profits.
- Mark Douglas
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Markets can remain irrational longer than you can remain solvent.
- John Maynard Keynes
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John Maynard Keynes on Irrational Markets by DaytradingBias.com
Never risk more than 1% of your total equity in any one trade.
By risking 1%, I am indifferent to any individual trade.
Keeping your risk small and constant is absolutely critical.
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