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
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 ...
There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of ...
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 ...
Successful trading is about finding the rules that work and then sticking to those rules.
- William J. O’Neil
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William O'Neil on Success ...
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 ...
They trade too much. They don’t pick their spots selectively enough. When they see the market moving, they want to be in on the action. So, they end up forcing ...
Take home runs when you can, but don’t beat yourself up about missing a few. One trade should never make or break your account.
- Vadym Graifer & Christopher Schumacher
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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
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The Tape Reader's profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears ...
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 ...