Trading Maxims/Quotes

"...I don't think I'm gambling, well thats not 100% true. What I'm doing as a traer is I'm betting on myself. I'm putting my money on myself that I am going to know the exact thing to do at the right time" -- Lina Leventhal (Huge trader in the Euro Pit)
 
"When you're convincing yourself that you're right, what you're saying to yourself is, 'I know who's in this market and who's about to come into this market. I know what they believe about what is high or what is low. Furthermore, I know each individual's capacity to act on those beliefs, and with this knowledge, I am able to determine how the actions of each of these individuals will affect price movement in it's collective form a second, a minute, an hour, a day, or a week from now.' Look at the process of convincing yourself that you're right from this perspective, it seems a bit absurd, doesn't it?"

Trading in the Zone p. 112 by Mark Douglas
 
"Our beliefs are the lenses through which we see the world. What you believe about yourself and the market will ultimately predict your performance." Howar Abell -- COO of Innergame Partners
 
1. NEVER add to a loser
2. ONLY add to a winner
3. Let profits run
4. Cut losses fast
5. Don't pick tops
6. Don't pick bottoms
7. Let the market, NOT YOUR EGO, make the decisions
 
"There is something within each of us that has the power over our minds that prevents our acting according to what we have agreed is the proper course of action. That something is present in all of us an is very powerful, more powerful than anything I know... Those who rid themselves of their egos are rewarded greatly. They are the superstars of their fields. In the markets rewards come in the form of profits. In the world of art, masterpieces are the results. In sports the players are all-stars and command enormous salaries. Every pursuit has its own manifestation of victory over the ego." Ed Toppel
 
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