There can be a huge gap between what you understand about the markets and your ability to transform that knowledge into consistent profits. – Mark Douglas
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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When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more ...
Don't try to buy at the bottom or sell at the top
- Bernard Baruch
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Bernard Baruch on Trading by DaytradingBias.com
... 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 ...
There is no holy grail, and there is no magical system. You have to win the battle within you first before you can win with the markets.
– Maria Psarra
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It is not that we had any unfair knowledge that other people didn't have, it is just that we did our homework. People just don't want to believe that anyone ...
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 ...
Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.
- Dr. Brett Steenbarger
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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 ...