Quotes from Edwin Lefevre - Trader & Author of Reminiscences of a Stock Operator

Reggie

Well-Known Member
#1
* In life or any other endeavour it is our inner demons that does us in.

* Fate does not always let us fix the pain. It delivers us the education at the cost of pain.

* The desire for constant action irrespective of market condition, is responsible for professionals to loose in the market.

* It takes a man a long time to learn all the lessons of his mistakes.

* A trader must beleive in himself and his judgement if he has to make a living.

* All you need to do is catch a small, but sure trade.

* There is nothing like loosing to know how not to trade, and by learning how not to trade, you learn how to trade.

* The stock market will be bullish, when the conditions are bullish, and bearish when the market conditions are bearish. All a man needs to do to make money is to appriase market conditions.

* Confidence comes to a man from a professionally dispassionate attitude towards his own method of trading.

* Two strategies for trading are : 1. Betting on minor fluctuations 2. Anticipating the inevitable advances and declines.

* Don't wait for a retracement entry in a bull market.

* In life, learning is the hardest thing to do.

* Most of the money is made in the stock market by taking a position and holding it.

* The biggest money can be made in stocks by having the patience to hold on to a winning position.

* Market rewards those with patience to not beat themselves.

* Trying to catch the first or the last eighth is the most difficult.

* Without one own's judgement, it is not possible to go far.

* Big swings make big money.

* Trade by scaling positions on Higher Highs and Lower Lows.

* Be free of speculative bias. Trade as per the trend.

* Sell on rallies in a bear market, buy on retracement in a bull market.

* The general public watches the stock movement for a week. The professional trader for months and years.
 
#2
Edwin was one of the few who got it right after being wrong.. But every such one there might be a million who have gotten hurt by the financial markets.. I think the most important rule is:

Know when to put a stop loss on Trading itself...
 

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