Quote of the Day - Standing on the Shoulders of Giants
“One of the most important rules you should always follow is NOT TO INCREASE YOUR EXPOSURE AGGRESSIVELY UNLESS YOUR TRADES ARE WORKING!”
“Instead of employing a statistical thinking toward market decisions, the general public keeps investing based on impulsive “feelings,” letting an assortment of emotional biases rules their lives. In the end, to their detriment, people are always risk-adverse towards gains, but risk seeking towards losses. They are stuck.”
“I’m not telling you it’s going to be easy, I’m telling you it’s going to be worth it.”
“Sometimes you’re ahead; sometimes you’re behind. The race is long and, in the end, it’s only with yourself.”
“The best traders wake up every day excited. They can’t wait to get to work. Passion transcends monetary reward.”
“Calling someone who trades actively an investor is like calling someone who repeatedly engages in one-night stands a romantic.”
“In life and business, there are two cardinal sins. The first is to act without thought and the second is not to act at all.”
“A great trader is like a great athlete . You have to have natural skills, but you have to train yourself how to use them.”
“I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.”
“…Crisis or difficulties can often produce a sense of meaning where more pleasant stimuli have failed…danger can make you feel free when peace and serenity fail to arouse any response. It does this by forcing you to concentrate.”
“What we do to avoid emotional pain is usually not what we need to do to best manage a trade.”
“Life is accumulative – Either our errors accumulate to what we don’t get, or our wise decisions accumulate into what we do get.”
“If you really want to do something you’ll find a way, if you don’t you’ll find an excuse.”
“The good trader always sticks with his own ideas and closes his ears to the why-isn’t-everyone-doing-it cry of the crowd.”