The Best Trading Proverbs

[JTrades]

Wait for the setup (free money) - ammo

 

[Visaria]

"Let me tell you the trouble with trading. There is no career in trading. You are only as good as your last trade, and that is it. You build nothing; you just trade. The day you stop trading, it's gone. So what you have spent doing for X hours every working day of your life has ended, and there is nothing left to show for it, except for money. You have to keep trading because you don't want to stop and look back. Because what have you done? You have built nothing. You have achieved nothing."

Disagree.

You build an account. You build a track record. The day you stop trading, hopefully you will have a large pot of money. If so, you have something to show for your time. If your track record is good enough, you achieve immortality.

 

[tiddlywinks]

Disagree.

You build an account. You build a track record. The day you stop trading, hopefully you will have a large pot of money. If so, you have something to show for your time. If your track record is good enough, you achieve immortality.

Better yet... Do something philanthropic with a portion of that "large pot of money" and if you're so inclined with some of the free time that trading affords you. There is no greater feeling than knowing YOU have made a difference in the quality of life of another living being.

 

[CoolHandLuke]

if it feels good doo it!
- GW

 

[elitetrader15]

Wall street is a scam!

I searched ET for a proverbs thread, but didn't find one.

After much reading, learning and practising it seems much of the best advice is found in proverbs such as trade with the trend.

What other proverbs (or sayings) deserve recognition?

 

[Xena]

I don't think any single technical indicator has been invented that can be relied upon. All of them need confirmation, not only from another indicator but from active human intervention when it becomes crystal that something is askew.

Those who say it cannot be done should stop interfering with those who do.

Thank you

 

[CoolHandLuke]

Those who say it cannot be done should stop interfering with those who do.

Thank you

May I ask how did you produce this "holy grail" indicator. I'm not asking for disclosure just how did you go about creating it? What was your process??

i have tried dozens of indicators alone and in combination never could find anything that worked ALL THE TIME.

 

[Visaria]

The best quote ever:

"it doesnt matter if you're right or wrong but how much money you make if right & how much you lose if wrong "

- Stanley Druckenmiller said George Soros told him this.

 

[CoolHandLuke]

...you can analyze charts up the ying yang, you're looking at the tail of the comet. you got to learn to get aboard the comet and ride the comet.
-J. "Rambo" Moulton

 

[sle]

The ones I especially like are

"Picking bottoms gives you smelly fingers" and "Legging the spread is like spreading the legs - the results are unpredictable".