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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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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When the facts change, I change my mind. What do you do, sir?
- John Maynard Keynes
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John Maynard Keynes on Facts by ...
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 ...
The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money ...
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
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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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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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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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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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