Quotes About Risk

Everything you want is on the other side of fear.

Most everything that you want is just outside your comfort zone.

Sometimes the most important shots in battle are the ones not taken.

It was the first time he'd circumvented the chain of command, going around his boss in the SOCOM Acquisition Office. With results like this he might have to do it more often.

Reece thought of one of Ox's favorite sayings: "If you get in a helicopter and it's not leaking, get ready to crash because that means it's out of hydraulic fluid.

The Teams had a saying: "Don't rush to your death.

The Teams had a saying: "Don't rush to your death." There was hardly ever a good reason to go barging into a target at full speed without carefully assessing the situation.

What lay ahead in the blackness? One man? Two? A squad of heavily armed terrorists? Had they already mixed the binary components of the Novichok? Were thousands of Ukrainians already dead and dying from the deadly compound? Reece pressed on.

Fortune favors the bold.

Indeed, I have found that confidence is one of the most consistent traits exhibited by the successful traders I have interviewed.

Even a poor trading system could make money with good money management.

Excessive worrying about taxes usually leads to unsound investments in the hope of achieving a tax shelter.

Now it's no longer sufficient to assume that because you trade with the trend, you'll make money. Of course, you still need to be with the trend, because it puts the percentages in your favor, but you also have to pay a lot more attention to where you're getting in and out.

Failure Is Not Predictive

I have what I call my Evel Knievel screen. These are companies that are trying to jump the Grand Canyon and probably won't make it. There are only two conditions for the screen. First, the company is trading at more than five times book value. Second, the company is losing money. My job is to figure out which stocks won't make it across the Grand Canyon and then go short those stocks.

The worst thing that can happen to you in the markets is being right and still losing money. That's the danger in buying on rallies and selling on breaks these days.

In trading, 80 percent of your profits come from 20 percent of your ideas.

The first rule of trading—there are probably many first rules—is don't get caught in a situation in which you can lose a great deal of money for reasons you don't understand.

You have to be willing to make mistakes regularly; there is nothing wrong with it.

Whenever I enter a position, I have a predetermined stop.

The next thing I would advise is to always use stops.

The first thing I would say is always bet less than 5 percent of your money on any one idea.

Perhaps the most important rule is to hold on to your winners and cut your losers. Both are equally important. If you don't stay with your winners, you are not going to be able to pay for the losers.

Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose per contract.