“Trade what you see, Not what you think”
“Most traders take a good system and destroy it by trying to make it into a perfect system.”
“If you find yourself in the bottom of a deep hole, the first thing to do is stop digging.”
“The key is consistency and discipline. Almost anybody can make up a list of rules that are 80% as good as what we taught. What they can’t do is give (people) the confidence to stick to those rules even when things are going bad.” Richard Dennis, on Turtle Trading
“Experienced traders control risk, inexperienced traders chase gains.” -Alan Farley
“My first rule is not to lose money. Losing an opportunity is minor in comparison, because there are always new opportunities around the corner.” - Burt Dohmen
“We must remove the emotional element as quickly as possible in trading. If you can do it before you put on a position, you have a good start.”
“There are only 3 rules…Rule number 1:- Don’t lose money. Rule number 2:- don’t forget rule number 1. Rule number 3:- the only thing you should be holding overnight is your dick.” Trader Jack
Number 8 by far is the funniest but number 6 is my favorite. I always get upset when I miss a trade but it really shouldn’t matter. There are tons of opportunities every week and missing trades is part of the game. The market will always be there tomorrow as long as you have the capital to trade it.
