Nice trading quote

[Iron]

“The most important change in my trading career occurred when I learned to divorce my ego from the trade. Trading is a psychological game. Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself. You have to stop trying to will things to happen in order to prove that you’re right. Listen only to what the market is telling you now. Forget what you thought it was telling you five minutes ago. The sole objective of trading is not to prove you’re right, but to hear the cash register ring.” -Martin Schwartz

[Iron]

“During every preceding period of stock speculation and subsequent collapse there has been the same widespread idea that in some miraculous way, endlessly elaborated but never actually defined, the fundamental conditions and requirements of progress and prosperity have been changed, that old economic principles have been abrogated, that all economic problems have been solved, that industry has suddenly become more efficient than it ever was before … that business profits are destined to grow faster and without limit, and that the expansion of credit can have no end.” --Business Week, November 1929.

[Iron]

"You can never shift from reverse to first gear without first going through neutral. YOU MUST CHANGE THE DIRECTION OF BAD TRADING BY FIRST SHIFTING TO NEUTRAL. YOU MUST STOP. What happens is that as your fear of losing rises, your emotions start to short-circuit your intellect and you no longer have confidence in what you’re doing. Stopping lets your emotions calm down and lets you reestablish your momentum with your intellect. Remember, time is always your ally. Use it to relax, clear your head, and regain your energies." -Marty Schwartz

[to75ne]

Postby LeTiss 4pm » Sat Jun 01, 2013 7:46 pm

"Trading with negative emotions, will produce negative results"

[Iron]

'Forget what happened, and what you could have done.

Do what you have to, be emotionless, I know its hard, but trading is trading.'

Barlorca (post in this forum)

[Iron]

"There is a time to go long, time to go short, and time to go fishing." ~ Jesse Livermore

[Iron]

"Stop killing yourself trying to make a lot of money in a hurry. Learn to trade, and the money will follow." -Alexander Elder

[L.o.S]

"Stop killing yourself trying to make a lot of money in a hurry. Learn to trade, and the money will follow." -Alexander Elder

Amen, going to make sure I don't forget that one!

[rogerlisa]

'S**t happens' - quote by anyone that doesnt give up!
Sorry couldnt resist this one

[Iron]

"By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.”
Larry Hite.

[Iron]

“Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.” -Ed Seykota

Also from Seykota:

“If you can’t take a small loss, sooner or later you will take the mother of all losses.”

I'm sure many of us can relate to the latter...

Jeff

[switesh]

Just found a new person to follow on Twitter. Came across him when one of his recent tweets resulted in Apple's stock price jumping by about 5% instantly.

I make money studying natural stupidity.
- Carl Icahn

[Iron]

“Dramatic and emotional trading experiences tend to be negative; pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.” –Ed Seykota

[Tradertrician]

He who dares wins
He who hesitates........doesn't

Del Boy

maybe our Del wasn't so daft after all!

[Iron]

'Since I started in the business, I have seen a number of traders who ended up committing suicide or being homeless. The one trait they all shared was that they had a gambler’s mentality. When they were losing, they were always looking for that one trade that would make it all back. I learned early on that you can’t do that. This is a business where you have to work. That is what I do. Every day I make hundreds of transactions. I grind out the returns. If you look at my daily returns, you will see there are very few big up days.'

Larry Benedict - See more at: http://www.donttalkaboutyourstocks.com/ ... azKyc.dpuf