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
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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If you really know what's going on, you don't even have to know what's going on to know what's going on... You can ignore the headlines because you anticipated them ...
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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Markets can remain irrational longer than you can remain solvent.
- John Maynard Keynes
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John Maynard Keynes on Irrational Markets by DaytradingBias.com
Beware of large positions that can control your emotions. Don’t be overly aggressive with the market. Treat it gently by allowing your equity to grow steadily rather than in bursts.
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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 ...
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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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 ...
One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do.
- Jim Rogers
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Successful investing is anticipating the anticipations of others.
- John Maynard Keynes
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John Maynard Keynes on Anticipation by DaytradingBias.com