Trading Success Story

"Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets."

"It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong."

"Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected."

"Learn to take losses. The most important thing in making money is not letting your losses get out of hand."

"There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer."

"In this business, if you're good, you’re right six times out of ten. You’re never going to be right nine times out of ten."

"Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says he's not going to take a patient's temperature."

"There is a time to go long, a time to go short and a time to go fishing."

"I have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet."

"The goal of a successful trader is to make the best trades. Money is secondary."

"The fundamental law of investing is the uncertainty of the future."

"If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist."

"Novice Traders trade 5 to 10 times too big. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on."

"Risk comes from not knowing what you're doing."

"I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime."

"If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money."

"There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer."

"I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have"

"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading."

"If you personalize losses, you can’t trade."

"I believe in analysis and not forecasting."

"The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance."

"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."

"Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds."

"Being a successful trader also takes courage: the courage to try, the courage to fail, the courage to succeed, and the courage to keep on going when the going gets tough."

"I know where I’m getting out before I get in."