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 ...
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 ...
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 ...
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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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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You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael Marcus taught me about making your best judgment, being wrong, making your next best ...
In trading, you can’t hide your failures. Your equity provides a daily reflection of your performance. The trader who tries to blame his losses on external events will never learn ...
Economics is in many respects the queen of the soft sciences. It’s expected to be better than the rest. It’s my view that economics is better at the multi-disciplinary stuff ...
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 ...