Participants act not on the basis of their best interests but on their perception of their best interests, and the two are not identical. – George Soros
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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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 ...
Successful trading is about finding the rules that work and then sticking to those rules.
- William J. O’Neil
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The constant monitoring and obsessive reasoning behind moves in a portfolio will never allow you as an investor to allow your profits to run.
- Ali Meshkati
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The game taught me the game. And it didn’t spare me the rod while teaching.
- Jesse Livermore
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Take home runs when you can, but don’t beat yourself up about missing a few. One trade should never make or break your account.
- Vadym Graifer & Christopher Schumacher
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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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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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