Quotes on Trading

If I have positions going against me, I get right out; if they are going for me, I keep them Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.

As I've told my three daughters, all of whom I've at one time encouraged to go into macro trading, any man or woman can do anything to which they set their heart and mind.

Money never seems to be interested in strengthening regulatory agencies, for example, but always in subverting them, in making them miss the danger signs in coal mines and in derivatives trading and in deep-sea oil wells.

Trading and religion have always been aligned together in the history of the world, and especially on the African continent.

The average man doesn't wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think.

...and every Wednesday the perfumed young lady slips me a hundred-crown note to leave her alone with the convict. And by Thursday the hundred crowns are already gone in so much beer. And when the visiting hour is over, the young lady comes out with the stink of jail in her elegant clothes; and the prisoner goes back to his cell with the lady's perfume in his jailbird's suit. And I'm left with the smell of beer. Life is nothing but trading smells.

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!

Don't take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don't be an impatient trader.

The goal of a successful trader is to make the best trades. Money is secondary.

The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.

Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.

Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.

If you want to have a better performance than the crowd, you must do things differently from the crowd.

One day I visited a guy who had made a fortune as a broker. He was sitting in his office with his computer. I hire people from here and make deals from this room, he told me. Then he took me to the trading room. Nobody was talking to anybody else, the place was silent as a tomb, they were all sitting there watching their terminals - a great word, terminal. I tell you, it scares the crap out of me.

He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.

I will not be alone if I am my true self. Only by trading my true self for the companionship of another have I ever made myself alone. Because when I gave up my real self, I wound up resenting my "significant other" for "making me" do that-and it was this resentment that ate away at our relationship.

Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.

He saw merchants trading, princes hunting, mourners wailing for their dead, whores offering themselves, physicians trying to help the sick, priests determining the most suitable day for seeding, lovers loving, mothers nursing their children—and all of this was not worthy of one look from his eye, it all lied, it all stank, it all stank of lies, it all pretended to be meaningful and joyful and beautiful, and it all was just concealed putrefaction. The world tasted bitter. Life was torture

The men on the trading floor may not have been to school, but they have Ph.D.’s in man’s ignorance.

The chief cause of failure and unhappiness is trading what you want most for what you want right now

We create music to express ourselves and when the world relates, that's a beautiful thing. We're all trading off each other's culture, so no matter what lines you put--country indie rock, rap, we're all somehow gonna find a way to come together.