Memorable Quotes and Advice

D

Datradr

Hello All,

Starting a thread on memorable things people have read or been told that seriously stuck in their mind and improved their trading.

I read all of the Market Wizard books and in one of them there was an interview with someone- and for some reason this random advice has still stuck with me to this day.

He mentioned how he waits for the right opportunity- when money is sitting in the corner and all I have to do is go pick it up.

Seizing those rare moments where the market gives you a great trade is definitely something to remember and has helped.

Any others?

Datradr (more like swing trader)
 
Quote from Datradr:

Hello All,

Starting a thread on memorable things people have read or been told that seriously stuck in their mind and improved their trading.

I read all of the Market Wizard books and in one of them there was an interview with someone- and for some reason this random advice has still stuck with me to this day.

He mentioned how he waits for the right opportunity- when money is sitting in the corner and all I have to do is go pick it up.

Seizing those rare moments where the market gives you a great trade is definitely something to remember and has helped.

Any others?

Datradr (more like swing trader)
More...

That someone was Jim Rogers.

I also like "if it doesn't go, you don't want to be there" (Teresa Lo). IOW, if the trade isn't doing what you expected it to do when you took it, just get the hell out, stop or no stop.
 
1) If I start hoping, time to get out as it is hopeless.

2) If I start thinking of buying new car, chances are market is at extreme and get out.

3) If I didn't get out during number "2", it soon turns into "1" and I am an idiot.
 
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