Saturday, March 17, 2007

Words To Trade By

Plans are useless, but planning is useful.

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It is better to be out of the markets wishing you were in, than to be in the market wishing you were out.

Don't have unrealistic expectations.

"Strong discipline 90% of the time is not enough because that last 10% of impulse trading will kill you." - Dan Fitzpatrick

"Keep your focus pure; looking at the chart when you have an open position leads to pre-conceived notions" - Oscar Carboni

"Do what it takes to sit and wait until the low hanging fruit appears" - Alan Farley

"Don't get overly excited about winning trades, and don't get overly despondent about losing trades." - Tom Bierovic

"In the process of evolving as a trader, learn to watch yourself more....." Linda Bradfore Raschke

"You have to have mental toughness because if you are wrong, you have to be able to take defeat and not lose your courage" - Angelo Reynolds

"There is always a point in every (marathon) run where you feel like hell..... but you just have to keep moving forward and keep putting one foot ahead of the other. It is the same thing in trading." -Larry Williams

1 comment:

Caravaggio said...

I value quotes and maxims because, even though they are 'only right when they are right' for a lot of the time, they make me think, and I value that.