Wisdom of Trading Quotes

Discussions about personal psychology for the individual trader.
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richleecy
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Wisdom of Trading Quotes

Post by richleecy » Sat Feb 11, 2006 10:56 am

"The desire to maximise the number of winning trades (or minimise the number of losing trades) works against the trader. The success rate of trades is the least important performance statistic and may even be inversely related to performance."

William Eckhardt


"That enormous profits should have turned into still more colossal losses, that new theories should have been developed and later discredited, that unlimited optimism should have been succeeded by the deepest despair, are all in strict accord with age-old tradition."

Benjamin Graham


"Understand that learning the markets can take years. Immerse yourself in the world of trading and give up everything else."

Linda Bradford Raschke


"I have learned many things from him (George Soros), but perhaps the most significant is that it’s not whether you are right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong."

Stanley Druckenmiller


"Investing is simple, but not easy."

Warren Buffett


"If the losses don’t hurt, your financial survival is tenuous."

William Eckhardt


"The markets are clearly not a random walk. The markets are not even efficient because that assumption implies you can’t make an above-average return. Since some people can do that, I disagree with the assumption."

Monroe Trout


"The essential element is that the markets are ultimately based on human psychology, and by charting the markets you’re merely converting human psychology into graphic representations. I believe that the human mind is more powerful than any computer in analyzing the implications of these price graphs."

Al Weiss

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