One common adage...that is completely wrongheaded is: You can't go broke taking profits.
That's precisely how many traders do go broke.
While amateurs go broke by taking large losses, professionals go broke ...
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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A simple, albeit less than optimal, investment strategy that is easily followed trumps one that will abandoned at the first sign of under-performance.
- Tadas Viskanta
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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 ...
In trading, you can’t hide your failures. Your equity provides a daily reflection of your performance. The trader who tries to blame his losses on external events will never learn ...
To me, the "tape" is the final arbiter of any investment decision.
I have a cardinal rule: Never fight the tape!
- Martin Zweig
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The best investors talk about being keenly aware of what they know and don’t know. Mediocre or dishonest investors pretend they know. Bad investors don’t even know they don’t know.
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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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