Can You Share The Advice On Trading That Were Most Useful To You?

[newtrader101]

Please post your all time favourite quotes by authors/other traders/ or your own insights. The ones that woke you up, or enabled a sea change in your trading. For example: For me, this one from Alexander Elder was a wake up call:

Traders who have the autopilot fantasy try to repeat what they felt as infants. Their mothers used to fulfill their needs for food, warmth, and comfort. Now they try to recreate the experience of childhood....The Market is not your Mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth.

 

[Nikhil Dogra]

These are my favourite quotes -

1. “The core problem, however, is the need to fit markets into a style of trading rather than finding ways to trade that fit with market behavior.” – Brett Steenbarger
2. “I always define my risk, and I don’t have to worry about it.” – Tony Saliba
3. “If I have positions going against me, I get right out; if they are going for me, I keep them… Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.” – Paul Tudor Jones
4. “Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected. "– George Soros
5. “Beware of trading quotes.” – Andreas Clenow

 

[intellibitz]

Please post your all time favourite quotes by authors/other traders/ or your own insights. The ones that woke you up, or enabled a sea change in your trading. For example: For me, this one from Alexander Elder was a wake up call:

Traders who have the autopilot fantasy try to repeat what they felt as infants. Their mothers used to fulfill their needs for food, warmth, and comfort. Now they try to recreate the experience of childhood....The Market is not your Mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth.

If you want to make millions in the market, start with billions !

 

[Aman_trader25]

"You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody."
-Alexander Elder
​

 

[newtrader101]

If you want to make millions in the market, start with billions !

Hi, what exactly is the implication of this quote?

 

[goldenedge]

The simplest concept in the whole trading arises from a basic philosophy of - if it's easy then anyone can do it.

Most don't make money in the long term so trading is hard, much harder than you can even imagine. So respect the risk and graciously learn to accept the losses first before you go on to make crores

The best loser is the only winner in the market.

 

[Akhilbeno]

"Avoid Temptation"

 

[Nadred222]

Too many people simply quite so fast after some fail and they think it's all over for them so please be prepared for everything like that here totally. Set aside some amount you are ready to loose and that's it. Don't be afraid but use your brain.

 

[Self-employedTrader]

 

[intellibitz]

If you want to make millions in the market, start with billions !

Hi, what exactly is the implication of this quote?

Capital is Paramount.