Thought For The Day

[flea]

"None of us likes to admit to himself that he has been wrong. If we have made a mistake in buying a stock but can sell the stock at a small profit, we have somehow lost any sense of having been foolish. On the other hand, if we sell at a small loss we are quite unhappy about the whole matter. This reaction, while completely natural and normal, is probably one of the most dangerous in which we can indulge ourselves in the entire investment process. More money has probably been lost by investors holding a stock they really did not want until they could ’at least come out even’ than from any other single reason . . . Furthermore, this dislike of taking a loss, even a small loss, is just as illogical as it is natural. If the real object of common stock investment is the making of a gain of a great many hundreds percent over a period of years, the difference between, say, a 20 percent loss or a 5 percent profit becomes a comparatively insignificant matter."

The Investor’s Anthology, by Charles D. Ellis

 

[flea]

"When forecasters have too much information, they often become even more inaccurate than when there is too little. Research on horse handicappers and other studies indicate that only early information affects one's decisions. Once the decision is made, additional information, even when contradictory, will not cause the person to change his mind. In fact, as more and more information becomes available, it only reinforces his belief. Additional information does not increase the quality of decision-making, only the certainty of conviction. It only adds a false sense of security."

Trading to Win, by Ari Kiev, M.D.

 

[neil]

Thought For The day

Edge is edge - but edge doesn't give you profits, - the traders make profits.

Anon.

 

[flea]

"An overly cautious trader becomes afraid to use his or her own market assessments. A stubborn trader won't buy a stock if others are in it, not wanting to be thought of as "a follower" or as someone who is "late to the party." A reluctant trader may refuse to risk more capital on an advancing stock. An impatient trader may book profit by selling too soon. An egotistical trader may refuse to insert stop losses or try to outguess the market by clinging to a self-image as a "home run hitter."

Trading to Win, by Ari Kiev, M.D.

 

[neil]

Thought For The day

When the pools of perception are cleansed, everything appears as it is.

-Zen proverb

 

[FTSE Beater]

The difference between insanity and genius is measured only by success

Taken from a Liverpool FC supporters flag

 

[BeM]

The difference between insanity and genius is measured only by success

Very nice one FTSE Beater!
So I guess my insanity is just temporary! Or... maybe not!

 

[neil]

Thought For The day

The people who get on in this world

are the people who get up

and look for the circumstances they want,

and, if they can't find them, make them.





George Bernard Shaw

 

[FTSE Beater]

Trading is like having s*x with my ex-wife.

Your in,
Your out,
Your up,
Your down
and by the end of it all your screwed.


Bob from the tv program Becker

 

[Market Wizard]

Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after an investor has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.


Reminiscences of a Stock Operator

 

[cjam]

Are you an Investor or Hobbiest?

http://www.investorshub.com/boards/read_msg.asp?message_id=740091

 

[neil]

Thought For The day

--"The big money is made by the sittin' and the waitin'--not the thinking. Wait until all the factors are in your favor before making the trade."

Jesse Livermore...How to trade stocks.

 

[neil]

Fraught for the day ?

When life hands you lemons,
make lemonade

 

[neil]

Summing Up

I learned how to win a little at a time. But finally I’ve learned this.

If your too careful - your whole life can become a f****** grind

 

[neil]

old zen proverb :

fall down eight times, get up nine...

 

[FTSE Beater]

Adults are just kids.....in a different playground


Taken from a TV advert for Spin City

 

[Car Key Boi]

"Traders, like athletes and artists, need to create a certain state of mind in which to successfully practice their craft. The best traders recognize the psychological paradoxes inherent in trading."

F. J. Chu, author: The Mind of the Markets

that wouldn't be Frank Chu from San Fran?

Frank Chu is a crazy dude who spends most of the afternoon walking up and down Union Street with a sign protesting against Bush and even Clinton (some blah about 12 galaxies and aliens using mind probes and secret deals behind closed doors in Washington blah)

Ladies & Gentleman, i present to yuo San Fran's wackiest wacko

 

[comino]

Thought of the day

Some day, in years to come, you will be wrestling with the great
temptation, or trembling under the great sorrow of your life. But the
real struggle is here, now, in these quiet weeks. Now it is being
decided whether, in the day of your supreme sorrow or temptation, you
shall miserably fail or gloriously conquer. Character cannot be made
except by a steady, long continued process.

-- Phillips Brooks (1835-1893) American Bishop

 

[EK1]

TFTD

The safest road to hell is the gradual one the gentle slope, soft
underfoot, without sudden turnings, without milestones, without signposts.

- C.S. Lewis

 

[EK1]

"Forgiveness is the fragrance that the violet sheds on the heal that has crushed it."
-- Mark Twain