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
The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade
- Bruce Kovner
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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 ...
To me, the "tape" is the final arbiter of any investment decision.
I have a cardinal rule: Never fight the tape!
- Martin Zweig
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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 ...
More than anything else, what differentiates people who live up to their potential from those who don’t is a willingness to look at themselves and others objectively.
- Ray Dalio
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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 ...
You don’t want to hold a position when you don’t understand what’s going on. That doesn’t make any sense.
- Bill Lipschutz
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The markets are the same now as they were five or ten years ago because they keep changing — just like they did then.
- Ed Seykota
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It wasn't anything to be proud of, when you think that I had been broke three times in less than two years. And being broke is a very efficient educational ...
It is not important that the basic value of the shares be practically nothing as long as there are other people willing to close their eyes and support those contradictions.
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