Quotes About Trading

So, Nero switched careers to what is called proprietary trading.

To our great excitement, we had proof after proof that traders had vastly, vastly more sophistication than the formula. And their sophistication preceded the formula by at least a century.

Decades of conflict, including a long civil war in Mutal, led to the formation of two large blocs, one dominated by Mutal, the other by Kaan. As cities within the blocs traded attacks with each other, half a dozen cities ended up in ruins, including Naranjo, Oxwitza', Mutal, and Kaan.

Joe Granville, a well-known technician who created the popular On-Balance Volume indicator, said, "Volume precedes price.

the weaponizing of the US dollar has created a powerful global incentive to create an alternative currency for global trading purposes.

Much of the market is mindlessly indexed. That means it is all beta. The knowledge is leaching away in the surf of noise and rapid trading.

Oil-futures trading has risen by a factor of one hundred in some three decades, from 10 percent of oil output in 1984 to ten times oil output in 2015. Derivatives on real estate are now nine times global GDP. That's not capitalism, that's hypertrophy of finance.

Google after acquiring intimate knowledge of its technology may make a thousand-fold return over five to seven years. A firm such as Renaissance might make a thousand trades in a day harvesting the tiniest anomalies. With modest leverage and relentless twenty-four-hour trading around the globe,

She had surrendered her virtue at six-and-ten, to a beautiful blond-haired sailor on a trading galley up from Lys. He only knew six words of the Common Tongue, but "fuck" was one of them—the very word she'd hoped to hear.

Actually, the best traders have no ego.

I discovered that you can't train people how to trade by just imparting knowledge. The key to trading success is emotional discipline. Making money has nothing to do with intelligence. Think of all the bright people that choose careers on Wall Street. If intelligence were the key, there would be a lot more people making money trading.

Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price

If instead of saying, "I'm going to do this trade," you say, "I'm going to watch myself do this trade," all of a sudden you find that the process is a lot easier.

One of my rules was to get out when the volatility and the momentum became absolutely insane.

I figured out that for every dollar I made trading, 30 percent was going to the government, 30 percent was going to support my planes, and 20 percent was going to support my real estate. So I finally decided to sell everything.

hold on to your winners and cut your losers.

My goal on Wall Street was never to get rich but to stay in business. There's a big difference. If you're out of the business, you can never get rich. That's why you have to be especially cautious when you're trading a larger position size.

When asked what he thought the average trader did wrong, Tom Baldwin, who in the days before electronic trading was the largest individual trader in the Treasury bond pit, replied, "They trade too much. They don't pick their spots selectively enough.

Twitter has become a group conversation of that type that used to take place on trading floors.

First of all, never play macho man with the market. Second, never overtrade.

They achieved this by learning a crucial lesson: in finance small is seldom beautiful. By making their bank bigger and more diversified than any previous financial institution, they found a way of spreading their risks. And by engaging in currency trading as well as lending, they reduced their vulnerability to defaults.

The Abyss. Globalization had many economic benefits but, as in our own times, the creation of a truly international economic network combined greater efficiency with greater fragility. In 1914 a highly optimized system crashed in what was, without doubt, the biggest financial collapse of all time. (Unlike in 1929 or in 2008, the world's major stock markets were forced to suspend trading for no less than five months.)

As I just stated, one of the most useful beliefs of successful trading is that when you don't follow your written rules, then you've made a mistake. In addition, if you don't have such written rules, then everything you do is a mistake.

How will you select your trading markets? Being a good trader in a great market is better than being a superb trader in an average market. Thus, what will you do to select your trading markets?