Even if you are an expert who spends 24 hours a day keeping an eye on all the fundamental developments that can influence the market, the reliability of your forecasts will still be relative.
Carl William Brown
For Dennis and the turtles, price was the only information that mattered. Lessons also focused extensively on risk management and avoiding emotional behavior. The turtles were taught that losses must be cut short – to become attached to a trade is to court disaster. Conversely, profits should be allowed to run until the trend came to an end.
The Turtles
Master YOURSELF, because you will never master the markets.
Glen Dahlen
No one can predict the markets consistently. It is all about odds, statistics, probabilities and avoiding the risk of ruin!
Henri Simoes
Every artist was first an amateur.
Ralph Waldo Emerson
With daytrading the learning curve is decision making. There is a thin line between just missing selling at the top to ending up selling at the bottom.
Charles Astor
When opportunity presents itself, you are most of the time carrying bad inventory or pissing in your pants.
Marty Schwartz
A fool sees not the same tree that a wise man sees.
William Blake
Experienced traders control risk, inexperienced traders chase gains.
Alan Farley
The answer to successful trading cannot be found in any coach, book, or system. Success is something that is cultivated over time, with directed effort.
Brett Steenbarge
You should expect the unexpected in this business; expect the extreme. Don’t think in terms of boundaries that limit what the market might do. If there is any lesson I have learned in the nearly twenty years that I’ve been in this business, it is that the unexpected and the impossible happen every now and then.
Richard Dennis
Great achievement is usually born of great sacrifice, and is never the result of selfishness.
Napoleon Hill
Buy when everyone else is selling and hold until everyone else is buying. That’s not just a catchy slogan. It’s the very esence of successful investing.
J. Paul Getty
When prices go up two processes will set in – an increased production and a decreased consumption. The effect will be a gradual fall in prices. If prices get too low two processes will set in – decreased production because a man will not continue to produce at a loss and, second, increased consumption. These two forces will tend to establish the normal balance. Ten years later I became rich by remembering those words.
Bernard Baruch
Lawyers, doctors, engineers and professional men who make a success spend anywhere from two to five years’ time studying and preparing to practice their profession before they begin making any money. Men enter into speculation in Wall Street without any preparation. They have made no study of it whatsoever. They try to deal in something they know nothing about. Is it any wonder then that they lose? Speculators and investors who simply guess, follow tips, rumors, newspaper talk and so-called “inside information” have no chance of ever making a success.
William D. Gann
To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.
Jesse Livermore
My sense of insecurity keeps me alert, always ready to correct my errors.
George Soros
A trading philosophy is something that cannot just be transferred from one person to another; it’s something that you have to acquire yourself through time and effort.
Richard Driehaus
The human side of every person is the greatest enemy of the average investor or speculator.
Jesse Livermore
There are only two kinds of traders. Winners… and Losers. Ninety-five out of one hundred don’t make it in this field. For their failure they blame everyone but themselves.
Wrong. There is only one person to blame. You.
Zoran Kolundzic
If you want to earn money from the stock market you must be patient, skillful, determinate, well informed and make a lot of practice to build a strong experience in the long run! So, be prepared, you need at least 6 or 7 years if you are an amateur, perhaps a bit less if you are a professional, and you trade with other people’s money.
Carl William Brown
In the Chinese language, “crisis” and “opportunity” are written using the same character. This means we can turn weakness into strength and convert obstacles into business opportunities.
Carl William Brown
The semi-sucker had read books about trading – usually written by yet higher grade suckers – but he did not realize that reading books was not the same as trading experience. This type of sucker could quote all sorts of wise sayings about the operations of the stock market. He did not lose money as quickly as the beginning sucker because he had learned some of the most rudimentary trading rules.
Jesse Livermore
The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.
Jesse Livermore
The man who can drive himself further once the effort gets painful, is the man who will win.
Roger Bannister.
Patience: even if you’re good at investing it takes a long time to get rich.
Steve Burns
Good and bad ideas both come from the same fountain of speculation and experiment.
Shaun Tan
To be a good and profitable trader you must also be a long-sighted medium!
Carl William Brown
The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
Linda Raschke
In this business, if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.
Peter Lynch
Success is like an ocean – it’s not in short supply. The problem is, some people go to the ocean with a teaspoon.
Jim Rohn
If people knew how hard I had to work to gain my mastery, it wouldn’t seem wonderful at all.
Michelangelo
No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.
Robert Rhea
India Sensex Stock Market index was 100 mark in 1978; 600 mark in 1988; 3,600 mark in 1998; 21,400 mark in 2008; 26,595 mark at the beginning of 2017 …
Carl William Brown
Markets trend only about 15 percent of the time; the rest of the time they move sideways.
Paul Tudor Jones
The stock market is never obvious. It is designed to fool most of the people, most of the time. Jesse Livermore
Risk is the uncertain possibility of loss. If you could quantify risk exactly, it would no longer be risk.
Ed Seykota
The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.
Ed Seykota
Letting losses run is the most serious mistake made by most investors.
William O’Neil
Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you. Larry Hite
This avidity alone, of acquiring goods and possessions for ourselves and our nearest friends, is insatiable, perpetual, universal, and directly destructive of society.
David Hume
Man is a gaming animal. He must always be trying to get the better in something or other.
Charles Lamb, Essays of Elia, 1823
It’s an extremely good thing that money sometimes changes hands.
Carl William Brown
My goal is to finish each day with more than I started.
Paul Tudor Jones
Trading and life philosophy, because man is a gaming animal.
Carl William Brown
As the statitics says: 95% of traders lose money; only 5% of traders can make a living at it, and only 1% of them really make money.
Carl William Brown
Trading and Life Philosophy. Taking small losses is part of the game. Taking large losses can take you out of the game.
Doug Kass
