Quotes About Trading

A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets. To know what I was capable of in the line of folly was a long educational step. I sometimes think that no price is too high for a speculator to pay to learn that which will keep him from getting the swelled head.

A man cannot be convinced against his own convictions, but he can be talked into a state of uncertainty and indecision, which is even worse, for that means that he cannot trade with confidence and comfort.

Wedding presents Charles and I went around the General Trading Company [a fashionable gift store frequented by the Establishment]. Looking back on it was quite a funny thing to do--so Sloane!

What about stocks? You got to buy them. What if they break? You have to buy the dips.

Basically, what I do is place a stop, generally 10 to 20 percent below the current price, whenever I buy a stock. The exact level depends on my own analysis of a stock's trading pattern. If a stock violates this stop, I'm out.

There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market.

Cultural Imperium' suggesting the idea of cultural hegemony such that what appears to be 'avant garde' and 'radical' is in fact intensely conservative and defined by the forces of economy and commodity trading which have absolutely no bearing on intrinsic value.

Goldman, Sachs specialized in commercial paper, Lehman in commodity trading.

Since he also had a sizable stake in U.S. government bonds, he felt he could play the market with impunity.

It was a trading post for a vast and dispersed agricultural community.

When you see that trading is done, not by consent, but by compulsion...th at in order to produce, you need to obtain permission from men who produce nothing-you may know that your society is doomed.

Your adrenaline starts to go when the market opens in the morning. It's like sports programming.

Markets need a fresh supply of losers just as builders of the ancient pyramids needed a fresh supply of slaves. Losers bring money into the markets, which is necessary for the prosperity of the trading industry.

An astute trader aims to enter the market during quiet times and take profits during wild times.

So far, the only people who've made money from trading systems are their sellers.

To help ensure success, practice defensive money management. A good trader watches his capital as carefully as a professional scuba diver watches his air supply.

People trade for many reasons—some rational and many irrational. Trading offers an opportunity to make a lot of money in a hurry. Money symbolizes freedom to many people, even though they often don't know what to do with it.

There are good trading systems out there, but they have to be monitored and adjusted using individual judgment. You have to stay on the ball—you cannot abdicate responsibility for your success to a mechanical system.

To win in the markets, we need to master three essential components of trading: sound psychology, a logical trading system, and an effective risk management plan.

The mental baggage from childhood can prevent you from succeeding in the markets. You have to identify your weaknesses and work to change. Keep a trading diary—write down your reasons for entering and exiting every trade. Look for repetitive patterns of success and failure.

Use limit orders almost exclusively—except when placing stops. Be careful on what tools you spend money: there are no magic solutions. Success cannot be bought, only earned.

The New Sell & Sell Short: How to Take Profits, Cut Losses, and Benefit from Price Declines (John Wiley & Sons, 2011).

Comience a llevar un diario: un registro de todas sus operaciones, con las razones para entrar y salir de éstas. Busque patrones repetitivos de éxito y de fracaso. Aquellos que no pueden recordar el pasado están condenados a repetirlo. El

Professionals expect prices to fluctuate most of the time, without going anywhere far. They wait until an upside breakout stops reaching new highs or a downside breakout stops making new lows. Then they pounce—fade the breakout (trade against it) and place a protective stop near the latest extreme point. It's a tight stop, and their monetary risk is low, with a big profit potential from prices returning towards the middle of the congestion zone.