“I haven’t seen much correlation between good trading & intelligence. Some outstanding traders are quite intelligent, but a few aren’t. Many outstanding intelligent ppl are horrible traders. Avg intelligence is enough. Beyond that, emotional makeup is more important"-Mark Douglas— Third Eye View (@BrainandMoney) July 8, 2019
Showing posts with label quotes. Show all posts
Showing posts with label quotes. Show all posts
July 8, 2019
Average intelligence is enough for successful trading
June 12, 2019
Teach a man how to fish and....
Old saying:
Give a man a fish and he will feed himself for a day
Teach a man how to fish and he will feed himself for life
New saying:
Give a man a fish and he will feed himself for a day
Teach a man how to fish but he will probably be too lazy to fish so he will definitely resell the method
Give a man a fish and he will feed himself for a day
Teach a man how to fish and he will feed himself for life
New saying:
Give a man a fish and he will feed himself for a day
Teach a man how to fish but he will probably be too lazy to fish so he will definitely resell the method
January 16, 2019
September 1, 2018
July 31, 2018
You're not going to make just one trade.
The amateur trader runs into traffic, and because he makes it to the other side safely, concludes it was a good idea. To him, the result justifies the means. But what would happen if he did that 100 times? Remember, you're not going to make just one trade.— Mark Minervini (@markminervini) July 26, 2018
May 24, 2018
Those who have knowledge don't predict
"Those who have knowledge don't predict. Those who predict don't have knowledge." -Lao Tzu— Steve Burns (@SJosephBurns) May 23, 2018
April 2, 2018
March 11, 2018
Trading is never about predictions
To be successful, new traders must realize that trading is about probabilities, trends, and risk management, not predictions.
March 9, 2018
December 13, 2017
To make money in stock market, you need discipline... not brains
Put differently
- there is no correlation between intelligence and success in stock markets
- making money consistently does not mean you are intelligent
- process is more important... follow the process and do not deviate
- there is no correlation between intelligence and success in stock markets
- making money consistently does not mean you are intelligent
- process is more important... follow the process and do not deviate
December 10, 2017
Trading has nothing to do with a finance education
The Turtles always supported this view.
On a related note, I have always maintained there is no correlation between intelligence and successful trading.
November 15, 2017
Ed Seykota quotes collection
The elements of good trading are cutting losses, cutting losses, and cutting losses.
Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.
I think that if people look deeply enough into their trading patterns, they find that, on balance, including all their goals, they are really getting what they want, even though they may not understand it or want to admit it.
Here’s the essence of risk management: Risk no more than you can afford to lose, and also risk enough so that a win is meaningful. If there is no such amount, don’t play.
Systems don’t need to be changed. The trick is for a trader to develop a system with which he is compatible.
Advanced technology for analyzing the markets is interesting, entertaining, distracting, and even counter-productive to coming to terms with emotional reactions to uncertainty and volatility.
Feelings naturally appear during trading. The feelings we don’t like seem to have roots deep in our unresolved issues. Somehow they get stuck and do not finish passing through, and can cloud the judgment and interfere with trading. The feelings we do like seem to pass through quickly without much trace.
The feeling of everyone telling you that you are right, might actually be the scary one.
Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.
Hard Work does not Guarantee Profit and one man’s hard work might be another man’s recreation
Becoming a better trader and becoming a better person seem to go together.
Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.
I think that if people look deeply enough into their trading patterns, they find that, on balance, including all their goals, they are really getting what they want, even though they may not understand it or want to admit it.
Here’s the essence of risk management: Risk no more than you can afford to lose, and also risk enough so that a win is meaningful. If there is no such amount, don’t play.
Systems don’t need to be changed. The trick is for a trader to develop a system with which he is compatible.
Advanced technology for analyzing the markets is interesting, entertaining, distracting, and even counter-productive to coming to terms with emotional reactions to uncertainty and volatility.
Feelings naturally appear during trading. The feelings we don’t like seem to have roots deep in our unresolved issues. Somehow they get stuck and do not finish passing through, and can cloud the judgment and interfere with trading. The feelings we do like seem to pass through quickly without much trace.
The feeling of everyone telling you that you are right, might actually be the scary one.
Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.
Hard Work does not Guarantee Profit and one man’s hard work might be another man’s recreation
Becoming a better trader and becoming a better person seem to go together.
October 30, 2017
Trading is not about predictions
... being a trader is not about predictions & calls.
Trading is all about about risk/ reward ratios, position size, an edge and emotional intelligence.
June 28, 2017
Warren Buffet: intelligent people do not need leverage
There is no reason for an intelligent person to use leverage as he will get rich anyways, and if you are not intelligent, god forbid, leverage is the last thing you need.
February 20, 2017
Being a trader is not about predictions
Trading is all about risk management, position size and an edge. A sound psychological makeup helps.
Making money has nothing to do with predictions or calls.
Making money has nothing to do with predictions or calls.
February 4, 2017
January 1, 2017
December 9, 2016
Analysis and trading results
More analysis or being able to make distinctions in the market’s behavior will not produce better trading results. There are many traders who find themselves caught in this exasperating loop, thinking that more or better analysis is going to give them the confidence they need to do what needs to be done to achieve success.
This trading paradox is something that most traders find difficult, if not impossible to reconcile for the simple reason you can’t use analysis to overcome fear of being wrong or losing money.
October 9, 2016
September 29, 2016
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