It’s not about being right or wrong, rather, it’s about how much money you make when you’re right and how much you don’t lose when you’re wrong. – George Soros
The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade
- Bruce Kovner
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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 ...
Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.
- Ed Seykota
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Holding cash is uncomfortable, but not as uncomfortable as doing something stupid.
– Warren Buffett
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Warren Buffett on Cash by DaytradingBias.com
Successful investing is anticipating the anticipations of others.
- John Maynard Keynes
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John Maynard Keynes on Anticipation by DaytradingBias.com
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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The Tape Reader's profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears ...
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 ...
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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Stress is literally kryptonite to traders. Stress disrupts their equilibrium and affects their decision-making. Anything we can do to minimize the “yips” will flow directly to the bottom-line.
- Gatis ...