Nice trading quote

[brianpotter]

Loss of opportunity is preferable to loss of capital

[Euler]

That's a good quote!

[CaerMyrddin]

Always have 2 big mottoes when trading:

'Cash is king'

'Lose your opinion, not your money'.

Glad to see Ferru123 is not alone on this topic anymore.

[Iron]

Thanks, although a trader is always happy to stand aside from the crowd rather than run with it, even such an esteemed crowd as this one.

Jeff

Glad to see Ferru123 is not alone on this topic anymore.

[PeterLe]

"Faith is taking the first step even when you don't see the whole staircase" Martin Luther King, Jr

...and couple that with "begin with the end in mind" (Stephen Covey, I recall?)
And you have a powerful combination...

[Iron]

"Lots of gurus will make promises, lots of vendors hawk products and services, lots of conferences promise education at a hefty fee. The reality is that the Web is filled with valuable, free or low cost information in blogs, websites, user groups, portals, and books. You can learn more from networking with real traders through free sites than from buying expensive products and services that may or may not fit your trading goals and style. Keep your initial overhead low; every penny you save is future trading capital." -Brett Steenbarger

[THENUTS]

" I've never seen the benefit of getting too involved in situations where my knowledge is too sketchy "

Patrick Veitch - enemy number one - page 106

[Iron]

'It's easy to pretend that indulging in the avoidance of the feeling of risk is free and unavoidable. It's neither.'

Seth Godin

[Iron]

"New traders usually flee at the first sign of work or losing money. That is where most of the 90% that lose money go, away."

Steve Burns

[steven1976]

"New traders usually flee at the first sign of work or losing money. That is where most of the 90% that lose money go, away."

Steve Burns

That's not just trading. Its the fear of failure that holds people back in a lot of things in life in my opinion.

[Euler]

I totally agree. In hindsight I was far too cautious when I was young.

[stevequal]

"When it comes to trading, it turns out that the skills we learn to earn high marks in school, advance our careers, and create relationships with other people, the skills we are taught that should carry us through life, turn out to be inappropriate for trading."

Trading in the Zone. Mark Douglas.

[Iron]

“I've talked to many folks who have blown up their accounts. I don’t think I've heard one person say that he or she took small loss after small loss until the account went down to zero. Without fail, the story of the blown-up account involved inappropriately large position sizes or huge price moves, and sometimes a combination of the two.”

D. R. Barton, Jr

[Iron]

”When examining evidence relevant to a given belief, people are inclined to see what they expect to see, and conclude what they expect to conclude…for desired conclusions, we ask ourselves, ‘Can I believe this?,’ but for unpalatable conclusions we ask, ‘Must I believe this?’”

Thomas Gilovich

[Iron]

On a similar note to the previous:

'When our bathroom scale delivers bad news, we hop off and then on again, just to make sure we didn’t misread the display or put too much pressure on one foot. When our scale delivers good news, we smile and head for the shower. By uncritically accepting evidence when it pleases us, and insisting on more when it doesn’t, we subtly tip the scales in our favor.'

- Psychologist Dan Gilbert in The New York Times