Words of Wisdom

[murray t turtle]

Trading is like a small salmon , or a big bass;
throw away the head & tail , eat much of the rest.

 

[achilles28]

Quote from murray t turtle:

Trading is like a small salmon , or a big bass;
throw away the head & tail , eat much of the rest.

No way. Its the fat tails where all the money is at!

 

[gnome]

Quote from popesidious:

These phrases come from Golf but they apply to Trading:

"Sometimes we get so afraid of hitting bad shots, we
don't let ourselves hit good ones." Butch Harmon

"I think good putters see the ball going in; bad
putters see the ball staying out. When I'm positive, I
see it going in. When I'm negative, I take the week
off." Chi Chi Rodriguez

"The secret is not hitting every shot perfect. The
secret is getting the most out of the shots you don't
hit perfect." Ben Hogan

"Not every hole is meant to be birdied." Bobby Jones

"The mind is your greatest weapon. It's the greatest
club in your bag. It's also your Achilles' heel."
Steve Elkington

"The mind is the Devil's weapon"... Don Campbell, Las Vegas

 

[Pete3212]

Control your losses, and the winners will come.

 

[achilles28]

Never put your finger where it doesn't belong.

 

[OddTrader]

.

 

[Thunderdog]

Quote from gnome:

"The mind is the Devil's weapon"... Don Campbell, Las Vegas

Then, clearly, some people here at ET have been exorcised.

 

[achilles28]

Quote from OddTrader:

.

That includes you Oddtrader!

 

[bwc]

Quote from Thunderdog:

Then, clearly, some people here at ET have been exorcised.

LOL

 

[duard]

As Livermore so aptly pointed out it is unwise to unwind a short or long "line" during a reactionary retracement as you give up your valuable position and the "big money" is made in the major movement and not the squiggle.