Never risk more than 1% of your total equity in any one trade.
By risking 1%, I am indifferent to any individual trade.
Keeping your risk small and constant is absolutely critical.
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Patience is the key to success not speed.
Time is a cunning speculator's best friend if he uses it right.
- Jesse Livermore
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Jesse Livermore ...
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 ...
To be a super-trader, you'll need an edge to overcome the laws of probability and the uncertainty of the marketplace. That edge comes from information flow, the ability to correct ...
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 ...
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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Rule number one of investing is never lose money.
Rule number two is never forget rule number 1.
- Warren Buffett
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Warren Buffett on ...
The smart money always loses money shorting bubbles because they cannot comprehend that it could go as high as it does.
- Jim Rogers
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Accept both your profits and regrets. It is best to seize what comes to hand when it comes, and not expect that your good fortune and the favorable circumstances will ...