Getting excited by gains in a trade is the first step toward getting panicky when those gains are threatened.
- Dr. Brett Steenbarger
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Stress is literally kryptonite to traders. Stress disrupts their equilibrium and affects their decision-making. Anything we can do to minimize the “yips” will flow directly to the bottom-line.
- Gatis ...
Don’t overestimate the skill and wisdom of professionals.
- Peter Lynch
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Peter Lynch on Professionals by DaytradingBias.com
It wasn't anything to be proud of, when you think that I had been broke three times in less than two years. And being broke is a very efficient educational ...
Listen to what the market is saying about others, not what others are saying about the market.
- Richard Wyckoff
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Richard Wyckoff on ...
Patience is the key to success not speed.
Time is a cunning speculator's best friend if he uses it right.
- Jesse Livermore
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Jesse Livermore ...
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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Holding cash is uncomfortable, but not as uncomfortable as doing something stupid.
– Warren Buffett
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Warren Buffett on Cash by DaytradingBias.com
I don’t think you can consistently be a winning trader if you’re banking on being right more than 50 percent of the time. You have to figure out how to ...