Recent content by micha88

When you are in a losing streak, your ability to properly assimilate and analyze information starts to become distorted because of the impairment of the confidence factor, which is a by-product of a losing streak. You have to work very hard to restore that confidence, and cutting back trading...

The markets are always changing, and they are always the same. Jack D. Schwager

"If a trader hasn't neutralized his susceptibility to give his winnings back to the market, then he is not what I define as a successful trader." Mark Douglas

"If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money." Bill Lipschutz

"The markets are not random. I don't care if the number of academicians who have argued the efficient market hypothesis would stretch to the moon and back if laid end to end; they are simply wrong. The markets are not random, because they are based on human behavior, and human behavior...

"You learn to distinguish the good traders from the bad, the successful techniques from the unsuccessful, and the good habits from the faulty. You also learn to distinguish the lover from the fighter, the winners from the losers, the serious from the frivolous, the cerebral from the superficial...

"The best fertilizer is the farmer's shadow. This adage applies equally well to trading as it does to farming. Trading profits are cultivated in the rich soil of market discipline, strict money management and consistent adherance to a proven trading strategy." Howard Abell "It is the mind that...

"True Trading Mastery derives from understanding the relatively small role technical analytical factors play in the overall trading process and the inestimatably important role that correct market attitudes and beliefs exert in facilitating a consistently profitable result." Bob Koppel

"Take every gain without showing remorse about missed profits, because an eel may escape sooner than you think." Joseph de la Vega, 1688, in an early manual on trading Quoted from Street Smarts

"Trade What You See, Not What You Think." Joe Ross, Trading The Ross Hook

"I seldom see a system that over a number of years produces profits that are much bigger than the transaction costs it generates - that is, if a system generates a million dollars in net profits, then it probably generates more than a million dollars in transaction costs." Van K. Tharp, Trade...

"The whole secret to winning in the stock market is to lose the least amount possible when you're not right." William O'Neil

"Speculation, in its truest sense, calls for anticipation." Richard D. Wyckoff

"The more you understand the concept you are trading, how it might behave under all sorts of market conditions, the less historical testing you need to do." Tom Basso

"We typically trade our beliefs about the market and once we've made up our minds about those beliefs, we're not likely to change them. And when we play the markets, we assume that we are considering all of the available information. Instead, our beliefs, through selective perception, may have...