Since 2011 · Words worth trading on

Quote of the Day

Standing on the shoulders of giants.

Over a decade of quotes on trading, discipline, patience and mindset that I keep coming back to. Some from market legends, some from philosophers, a few from the trail.

Read one before the open. Then go do the work.

Nick Nick

“The vision that you glorify in your mind, the ideal that you enthrone in your heart - this you will build your life by, this you will become.”
— James Allen
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Nick Nick

“…It takes time for your routine and good habits to become automatic and natural. It can take weeks and months to see the eventual payoff. But, in the long run, comiitment and patience will pay off. Those who are persistent WILL see the payoff. There are few things more satisfying than becoming proficient in your chosen field or discipline, and knowing that the rewards of hard work and intensive study are there to be reaped. Whatever picture you put in your mind, you will be able to achieve!”
— Linda Bradford Raschke
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Nick Nick

“One great mistake the man makes who watches the ticker all the time is that he trades too often”
— William D. Gann
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Nick Nick

“Mistakes are part of the dues one pays for a full life.”
— Sophia Loren
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Nick Nick

“He who gains a victory over other men is strong; but he who gains a victory over himself is all powerful.”
— Lao-Tse
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Nick Nick

“It was at that point I said, “Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?” That was when I first decided I had to learn discipline and money management. It was a cathartic experience for me, in the sense that I went to the edge, questioned my very ability as a trader, and decided that I was not going to quit. I was determined to come back and fight. I decided that I was going to become a very disciplined and business like about my trading.”
— Paul Tudor Jones - Market Wizards
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Nick Nick

“Many times the reading of a book has made the fortune of a man- has decided his way in life. To use books rightly is to go to them for help: to appeal to them when our knowledge and power fail; to be led by them into wider sight and clear conception of our own.”
— Ralph Waldo Emerson
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Nick Nick

“Emotional well being fuels cognitive efficiency. We think best when we feel good.”
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Nick Nick

“Happiness is the meaning and purpose of life, the whole aim and end of human existence.”
— Aristotle
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Nick Nick

“Many traders are shaken out of good trades when they aim to not lose, rather than aim to maximize profits.”
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Nick Nick

“Thinking positively or negatively about performance outcomes will interfere with the process of performing. When you focus on the doing, the outcomes take care of themselves.”
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Nick Nick

“Much of success consists of finding opportunity in adversity.”
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Nick Nick

“Self confidence is not expecting the best; It’s knowing deep inside that you can handle the worst.”
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Nick Nick

“The problem wasn’t that Lehman Brothers had been allowed to fail. The problem was that Lehman Brothers had been allowed to succeed.”
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Nick Nick

“I’ll do it, but only after you explain to me how you are going to fuck me.”
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Nick Nick

“The people in a position to resolve the financial crisis were, of course, the very same people who had failed to foresee it”
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Nick Nick

“When the power of love overcomes the love of power the world will know peace.”
— Jimi Hendrix
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Nick Nick

“Fortune favors the prepared mind.”
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Nick Nick

Do’s and Don’ts for Dealing with Whiners

Nobody likes a Whiner. Laugh the world laughs with you; whine and you whine alone. Whiners feel helpless and overwhelmed by an unfair world. Their standard is perfection, and no one and nothing measures up to it. But misery loves company, so they bring their problems to you. Offering solutions makes you bad company, so their whining escalates

Don’t:

  • Don’t agree with Whiners, as it just encourages them to keep cmplaining.
  • Don’t disagree with them, as they will feel compelled to repeat their problems.
  • Don’t try to solve their problems for them — you can’t.
  • Never ask them why they are complaining to you about their problems. They hear this as an invitation to start all over again from the beginning.

Do:

  • Do have patience with their impossible standards and seemingly endless negativity.
  • Do have compassion for the poor complainers whose lives are beyond their control.

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