Good Trading Quotable Quotes

A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.

Jesse Livermore

In another word. CUT LOSS!
 
"People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored to something. People tend to view the prices they’re used to as normal and prices removed from these levels as aberrant. This perpective leads people to trade counter to an emerging trend on the assumption that prices will eventually return to “normal”. Therein lies the path to disaster."

William Eckhardt

Trading Quotable Quotes
 
“If you really believe in an uncertain outcome, then you also have to expect that virtually anything can happen. Otherwise, the moment you let your mind hold onto the notion that you know, you stop taking all of the unknown variables into consideration. Your mind won’t let you have it both ways. If you believe you know something, the moment is no longer unique.”

-Mark Douglas, Trading in the Zone
 
Mike, I learned it from you. You always told me this was the rule. Rule number one: throw away your cards the moment you know they can't win... fold the hand!

Rounders
 
"The more sophisticated you become as a trader, the more you will realize that trading is completely mental. It isn't you against the markets, it is just you"
 
If the market's behaviour seems mysterious to you, it is because your own behaviour is mysterious and unmanagable"



"There are only a few traders who have come to the realization that they alone are completely responsible for the outcome of their actions."
 
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