"Most people approach trading to make a lot of money, and that is one of the primary reasons they lose." - Van Tharp (Trading Coach)
"There is no need to rush into any position, wait for your signal. Rushing into a position and chasing a stock is one of the main reasons that traders lose money. Follow your trading plan not your emotions and impulses." - Marty Schwartz
"Trading offensively is trying to grow you capital while defense is protecting what you have. Winning trades are how many points you score and losing trades is how many points you give up to the other team. While offense is great for a show defense wins championships." - Paul Tudor Jones
"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
“The realization that you are responsible for the results you get is the key to successful trading. Winners know they are responsible for their results; losers think they are not.” - Van Tharp
I woud add one more
ReplyDelete*4) As Ben Carlson says, emotions cannot be back tested. That’s why past bear market always looks like opportunities* *and future ones scary.*