Traders Thought for the Day

Discussion in 'Community Chat' started by rod178, Jan 7, 2015.

  1. rod178

    rod178 Well-Known Member

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    “Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it. Losers try to build a stool with only one leg, or two at the most.”
    – Alexander Elder
     
  2. sqa

    sqa Village Scribe

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    Great quote!
     
  3. rod178

    rod178 Well-Known Member

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    My stool has three legs, although I suspect that one leg is sometimes shorter than the other two.
     
  4. sqa

    sqa Village Scribe

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    As long as it has 3 legs within decently similar lengths, it'll work. ;D
     
  5. JohnD

    JohnD Active Member

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    This calls for something I thought up in the shower this morning: don't expect your results to be consistent if your actions are not consistent.
     
  6. rod178

    rod178 Well-Known Member

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    " Chaos is not dangerous until it starts to look orderly"
    - Max Gunther(The Zurich Axioms)
     
  7. outthislife

    outthislife Well-Known Member

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    I like you now. :thumbsup:
     
  8. rod178

    rod178 Well-Known Member

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    "If you have an approach that makes money, then money management can make the difference between success and failure... ... I try to be conservative in my risk management. I want to make sure I'll be around to play tomorrow. Risk control is essential."
    - Monroe Trout
     
  9. rod178

    rod178 Well-Known Member

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    “Our complexity is much more likely to lead us astray than any simplicity we may follow.”
    - Roger Kimball
     
  10. rod178

    rod178 Well-Known Member

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    “Good luck is what happens when preparation meets opportunity, bad luck is what happens when lack of preparation meets a challenge.”
    – Paul Krugman
     
  11. rod178

    rod178 Well-Known Member

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    "Beware the chartist’s illusion. It is characteristic of human minds to perceive links of cause and effect where none exist"
    - Max Gunther (The Zurich Axioms)
     
  12. rod178

    rod178 Well-Known Member

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    “Tension is who you think you should be. Relaxation is who you are.”
    - Chinese Proverb
     
  13. jonnycab

    jonnycab Well-Known Member

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    "Younger generation are hampered by the need to understand (and rationalize) why something should go up or down. By the time that it becomes self-evident, the move is over." - Paul Tudor Jones
     
  14. rod178

    rod178 Well-Known Member

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    “We keep our cool when others don’t. The point is, markets adapt. Don’t listen to all the crap out there.”
    – David Tepper
     
  15. rod178

    rod178 Well-Known Member

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    "The first step toward success is taken when you refuse to be a captive of the environment in which you first find yourself."
    - Mark Caine
     
  16. rod178

    rod178 Well-Known Member

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    “Don’t judge everyone else by your own limited experience.”
    - Carl Sagan
     
  17. rod178

    rod178 Well-Known Member

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    "There isn't anything noble about being superior to another person. True nobility is in being superior to the person you once were."
    - Ziad K. Abdelnour
     
  18. rod178

    rod178 Well-Known Member

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    “A flawed perspective breeds a flawed view.”
    - The Lost Writings of Wu Hsin
     
  19. rod178

    rod178 Well-Known Member

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    " Human behaviour cannot be predicted. Distrust anyone who claims to know the future, however dimly".
    - Zurich Axioms
     
  20. rod178

    rod178 Well-Known Member

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    “Man’s mind, once stretched by a new idea, never regains its original dimensions.”
    – Oliver Wendell Holmes
     

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