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.
“At this time in my life, I prefer to be completely liquid. Cash in the bank and buried in my back yard.”
“The highest compliment that you can pay me is to say that I work hard every day, that I never dog it.”
“I’m known for my short-selling ability, and March 2009 was a disastrous demonstration of how it can go wrong. Working to correct mistakes and get back on track helped to create a very nice May 2010 result for me, as evidenced by the statement above. As traders, we must all keep moving forward. I admit it is somewhat creepy and bizarre having disgruntled individuals continue to stick the knife in my back as they try to publicize my bad March/April 2009, but the fact is that this is just the kind of garbage traders have to rise above. Bill O’Neil told me that what makes a good trader a great trader is their ability to bounce back from the times when they get hit. Frankly, I hope my progress will inspire the rest of you to realize that no matter how difficult things get for you, you must absolutely remain a student of the market and be doggedly persistent and courageous in examining and correcting your mistakes and taking action to get back on track.
To these gadfly critics of mine, I say, “Eat my shorts!” ;-) G.M.
”
“You don’t have to run a big business, fly a balloon, or break records in a boat to learn from and use the lessons I learned. Your goal can be small. Student magazine was very small at first. I sold space in it from a payphone at school because I believed I could and would do it. If something is what you really want to do, just do it. Whatever your goal is you will never succeed unless you let go of your fears and fly.”
“Better to remain silent & be thought a fool that to speak & remove all doubt.”
