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 Wyckoff
If you make a bad trade and you have money management you are really not in much trouble. However, if you miss a good trade there is nowhere to turn. ...
The markets are the same now as they were five or ten years ago because they keep changing — just like they did then.
- Ed Seykota
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Lose Your Opinion, Not Your Money
- Linda Bradford Raschke
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Linda Bradford Raschke on Opinion by DaytradingBias.com
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 ...
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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Speculation is most dangerous when it looks easiest.
- Warren Buffett
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Warren Buffett on Risk by DaytradingBias.com
Successful trading is about finding the rules that work and then sticking to those rules.
- William J. O’Neil
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William O'Neil on Success ...
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 ...
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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If you want to have better performance than the crowd, then you must do things differently from the crowd.
- Sir John Templeton
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