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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We are in the business of making mistakes. The only difference between the winners and the losers is that the winners make small mistakes while the losers make big mistakes.
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Don't be a hero. Don't have an ego. Always question yourself and your ability.
Don't ever feel that you are very good. The second you do, you are dead.
- Paul ...
They trade too much. They don’t pick their spots selectively enough. When they see the market moving, they want to be in on the action. So, they end up forcing ...
The Tape Reader's profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears ...
Traders often repeat the same mistakes over and over, acting on triggers that have served them poorly time and time again even as they continue to expect a tidy profit ...
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 ...
You don’t want to hold a position when you don’t understand what’s going on. That doesn’t make any sense.
- Bill Lipschutz
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Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight. If he does not, he is gambling.
- Richard ...
Accept both your profits and regrets. It is best to seize what comes to hand when it comes, and not expect that your good fortune and the favorable circumstances will ...