Quotes

Everything you need to know is right there in front of you.
- Jesse Livermore -

A trader should have no opinion. The stronger your opinion, the harder it is to get out of a losing position.
- Paul Rotter -

Formal education will make you a living, self-education will make you a fortune.
- Jim Rohn -

Experienced traders control risk,
inexperienced traders chase gains.
- Alan Farley -

The crowd is bargain hunting in what was; the knowing are buying what will be.
- Justin Mamis -

The biggest secret about success is that there isn’t any big secret about it, or if there is, then it’s a secret from me, too. The idea of searching for some secret for trading success misses the point.
- Ed Seykota -

The answer to successful trading cannot be found in any coach, book, or system. Success is something that is cultivated over time, with directed effort.
- Brett Steenbarger -

The less I cared about whether or not I was wrong, the clearer
things became, making it much easier to move in and out of positions,
cutting my losses short to make myself mentally available to take the next opportunity.
- Mark Douglas -

The best traders have no ego. You have to swallow your pride and get out of the losses.
- Tom Baldwin -

I never let school interfere with my education.
- Mark Twain -

Do more of that which is working and less of that which is not. If a market is strong, buy more. If a market is weak, sell more.
- Dennis Gartman -

The most important rule of trading is to play good defense, not great offense. Every day I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum possible draw down.
- Paul Tudor Jones -

The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.
- Victor ‘Trader Vic’ Sperandeo -

If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest.
- Benjamin Franklin -

The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.
- Jesse Livermore -

Pure price systems are close enough to the North Pole that any departure tends to bring you farther south.
- William Eckhardt -

People who matter are most aware that everyone else does, too.
- Malcolm S. Forbes -

Fundamental facts of primary trends and their corrections:
Movements in the primary direction tend to be extended and laborious, while secondary movements against the primary trend tend to be sudden, often violent, and short-lived.

An object at rest tends to stay at rest and an object in motion tends to stay in motion with the same speed and in the same direction unless acted upon by an unbalanced force.
- Isaac Newton (First Law of Motion) -

Time is more important than price. When time is up price will reverse.
- W. D. Gann -

It’s OK to be wrong; it’s unforgiving to stay wrong.
- Martin Zweig -

Taking small losses is part of the game. Taking large losses can take you out of the game.
- Doug Kass -

Have the courage to say no.
Have the courage to face the truth.
Have the courage to do the right thing because it is right.
- W. Clement Stone -

People often need your love most when they appear to deserve it the least.

The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.
- Bertrand Russell -

What you are afraid to do is a clear indicator of what you need to do.

Our greatest glory is not in never failing,
but in rising every time we fall.
- Confucius -

People who pride themselves on their “complexity” and deride others for being “simplistic” should realize that the truth is often not very complicated. What gets complex is evading the truth.
- Thomas Sowell -

If it’s obvious, it’s obviously wrong.
- Joe Granville -

It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.
- Samuel L. Clemens -

Measure your success against the zero line.
Not the ‘maximum potential’ line.
- Jason Leavitt -

Imbalance or abnormity is never so dangerous as when it is widely perceived or accepted as being normal.

The worst thing you can do is not to try.
- Linda Bradford Raschke -

I skate to where the puck is going to be, not where it has been.
- Wayne Gretzky -

We are what we repeatedly do. Excellence, then, is not an act, but a habit.
- Aristotle -

When everyone thinks alike, there isn’t much thinking taking place.

Get out when you can, not when you have to.
- Jesse Livermore -

Stay focused and calm.
- Mystifier -

Losers live in the past. Winners live for the future.
- Jason Leavitt -

When your only tool is a hammer, everything looks like a nail.

The market loves to punish the majority.

Rule No 1: Never lose money.
Rule No 2: Never forget rule No 1.
- Warren Buffett -

I tend to cut bad trades as soon as possible, forget them, and then move on to new opportunities. The elements of good trading are: (1) cutting losses, (2) cutting losses and (3) cutting losses. If you follow these three rules you may have a chance.
- Ed Seykota -

Risk comes from not knowing what you are doing.
- Warren Buffett -

Gold and silver are money. Everything else is credit.
- J.P. Morgan -

To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.
- Jesse Livermore -

Many a healthy reaction has proved fatal.
- Humphrey B. Neill -

That men do not learn very much from the lessons of history is the most important of all the lessons of history.
- Aldous Huxley -

The reason there is so much ignorance is that those who have it are so eager to share it.
- Frank A. Clark -

Great spirits have always encountered violent opposition from mediocre minds.
- Albert Einstein -

Everybody gets what they want out of the market.
- Ed Seykota -

Fail again, fail better.
- Samuel Beckett -

Markets can remain irrational longer than you can remain solvent.
- John Maynard Keynes -

While one person hesitates because he feels inferior, the other is busy making mistakes and becoming superior.

Don’t be an idiot, wait for a good one.

Don’t short a dull market.

Whenever you find yourself on the side of the majority, it’s time to pause and reflect.
- Mark Twain -

The credibility of any item in finance is inversely proportionate to the amount of publicity it receives.
- Michael Scott -

Predict? Yes. That’s implied when you make a trade. Just don’t stick to your predictions if the market tells you something different.
- Jason Leavitt -

Insanity is repeating the same behaviour and expecting different results.

When one door closes, another opens. But we often look so long and so regretfully at the closed door that we do not see the one which has opened for us.
- Alexander Graham Bell -

Lesson: You may think of your skills as follows: ‘Everyone knows this; it’s obvious.’
Fact: Hardly anyone knows what you know. It isn’t obvious.

Love small losses.
Hate large losses.

Every once in a while you must go to cash, take a break, take a vacation. Don’t try to play the market all the time. It can’t be done, too tough on the emotions.
- Jesse Livermore -

Everything is possible.

I’m going to go where the markets take me.