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
The game taught me the game. And it didn’t spare me the rod while teaching.
- Jesse Livermore
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Jesse Livermore on Game by ...
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 ...
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 ...
I don’t think you can consistently be a winning trader if you’re banking on being right more than 50 percent of the time. You have to figure out how to ...
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
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 ...
Getting excited by gains in a trade is the first step toward getting panicky when those gains are threatened.
- Dr. Brett Steenbarger
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If you really know what's going on, you don't even have to know what's going on to know what's going on... You can ignore the headlines because you anticipated them ...
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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