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 ...
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
– George Soros
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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 ...
The markets generally are unpredictable, so that one has to have different scenarios. The idea that you can actually predict what's going to happen contradicts my way of looking at ...
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 ...
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 ...
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
Successful traders isolate themselves from the opinions of others.
- Linda Bradford Raschke
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Linda Bradford Raschke on Opinions by DaytradingBias.com
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 ...