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 ...
It's not about being right or wrong, rather, it's about how much money you make when you’re right and how much you don’t lose when you’re wrong.
– George Soros
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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 ...
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
– George Soros
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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 ...
People who fight change are fighting inevitability itself.
- Jim Rogers
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Jim Rogers on Change by DaytradingBias.com
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 ...
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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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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The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
- Linda ...