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
Losses can either be lost money, or tuition in the school of trading.
- Mark Moskowitz
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Mark Moskowitz on Losses by DaytradingBias.com
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 ...
Don’t overestimate the skill and wisdom of professionals.
- Peter Lynch
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Peter Lynch on Professionals by DaytradingBias.com
More than anything else, what differentiates people who live up to their potential from those who don’t is a willingness to look at themselves and others objectively.
- Ray Dalio
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Stock market technique is not an exact science. Stock (and commodities) prices are made by the minds of men (and women).
- Richard Wyckoff
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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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There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of ...
Yale did a study recently showing that investors made 300% more by putting money in commodities themselves rather than commodity stocks – that is unless you’re a great stock picker.
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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 ...