Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight. If he does not, he is gambling. – Richard Wyckoff
Don’t let the outcome of one trade alter your trading discipline. One trade doesn’t make a system.
- Vadym Graifer & Christopher Schumacher
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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 ...
One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do.
- Jim Rogers
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I know from experience that nobody can give me a tip or series of tips that will make more money for me than my own judgement.
- Jesse Livermore
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Yale did a study recently showing that investors made 300% more by putting money in commodities themselves rather than commodity stocks – that is unless you’re a great stock picker.
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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 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 ...