Hi traders! Since many of you liked my post on Jesse Livermore famous quotes., I thought of posting some of my top favorite quotes. Enjoy :)!
1. “Money is made by sitting, not trading.” – Jesse Livermore 2. “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 3. “Letting losses run is the most serious mistake made by most investors.” – William O’Neil 4. “That cotton trade was almost the deal breaker for me. It was at that point that I said, ‘Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?’” – Paul Tudor Jones 5. “When I get hurt in the market, I get the hell out. It doesn’t matter at all where the market is trading. I just get out, because I believe that once you’re hurt in the market, your decisions are going to be far less objective than they are when you’re doing well… If you stick around when the market is severely against you, sooner or later they are going to carry you out.” – Randy McKay 6. “I always define my risk, and I don’t have to worry about it.” – Tony Saliba 7. “The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.” – Victor Sperandeo 8. “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 9. “What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” -William O’Neil 10. "The game taught me the game. And it didn’t spare me rod while teaching." Jesse Livermore
Thank you for posting. Your list serves as a reminder to us all. :-)
mrblanc
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nice one! especially number 9. Although it continues to be hard to understand when you need to step out...any tips recommendation on when to take your losses or profits?
clopus2017
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Thanks. It's really wise. And useful. But I, like your other fans are more likely to expect new ideas and accurate forecasts from you. ))
abdullatrader
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@clopus2017, I usually post ideas if there is an update that I need to post based on my previous analysis. Also if I'm expecting a major move or great trading opportunity I make sure to post it. Here is an example if a nice trade setup I shared last week. Thank you for your comment - Abdulla