Nice trading quote

[Zenyatta]

“Quitters never win, winners never quit, but those who never win and never quit are idiots.”
-Larry Kersten

"Be selective. You can't make honey from shit"
-Zenyatta

[Ferru123]

"It is hard to fail, but it is worse never have tried to succeed." - Theodore Roosevelt

[Ferru123]

Wise words...

[Ferru123]

"An aspiring scalper should realize, though, that he is just as human and susceptive to the vagaries of the mind as all those who failed before him. To think oneself above that can be a costly mistake that sooner or later may come to collect its debt. Arguably, the only way for a scalper to stand a fighting chance is to acknowledge his personal follies and not deny them".

Bob Volman

[Ferru123]

"You will not make money long term until you know enough about your personality to find a trading style that is compatible. You need to follow your rules comfortably, allowing you to enter and exit trades with minimal or no uncertainty or anxiety. Once you have mastered a method of trading, if you feel stress while trading, then either you haven't yet found your style or yourself".

Al Brooks

[Ferru123]

'Let’s say you’re allowing something to happen. You might want it to go a certain way, to a certain outcome. That’s your goal. But what if you let go of this idea? What if you say, “I don’t know what will happen.” (Btw, you really don’t.) What if you say, “Let’s see what happens.” Then things will happen, but not the way you planned. The outcome might be completely different than what you’d hoped for. But it can still be great, just different. It might even be wonderful, and surprising. Surprises are good, if we accept that things always change and that change is good.'

From Zenhabits.net

[Ferru123]

“The big fundamental of the market: What is it? It’s people, human behaviour. They don’t change. They are irrational some times, sometimes they are rational. But mostly they are front-end weighted. They are very, very affected by what most recently happened. They tend to extrapolate the most recent event.”

Larry Hite

[Ferru123]

"Basically, I would buy when weak hands were selling and sell when they were buying. In retrospect, I'm not sure that my strategy had anything to do with my success. If you assume that the true theoretical price is somewhere between the bid and the offer, then if you buy on the bid, you're buying the market for a little less than it's worth. Similarly, if you sell on the offer, you're selling it for a little more than it's worth. Consequently, on balance, my trades had a positive expected return, regardless of my strategy. That fact alone could very well have represented 100 percent of my success."

William Eckhardt (from Market Wizards)

[Ferru123]

"If I have positions going against me, I get right out; if they are going for me, I keep them... Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in."

Paul Tudor Jones

[Ferru123]

'When asked if you would rather have fruit or cake one week from now, you will usually say fruit. A week later, when the slice of German chocolate and the apple are offered, you are statistically more likely to go for the cake. This is why your Sky + planner is full of great films you keep passing over for Family Guy. With Sky +, the choice of what to watch right now and what to watch later is like chocolate versus carrot sticks. When you are making plans, your better angels point to the nourishing choices, but in the moment you go for what tastes good.'

McRaney, David (2012-10-04). You Are Not So Smart (pp. 45-46). Oneworld Publications (trade). Kindle Edition.