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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The most important rule of trading is to play good defence, not great offence.
- Paul Tudor Jones
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Paul Tudor Jones on Defense ...
Don't be a hero. Don't have an ego. Always question yourself and your ability.
Don't ever feel that you are very good. The second you do, you are dead.
- Paul ...
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
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 ...
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 ...
... if you cannot accept that losses will occur, then you cannot accept a good trading system that will make a lot of money in the long run but might ...
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 ...
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 ...
Speculation is most dangerous when it looks easiest.
- Warren Buffett
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Warren Buffett on Risk by DaytradingBias.com