--- --- > "The market is a device for transferring money from the impatient to the patient." > "Are you willing to lose money on a trade? If not, then don't take it. You can only win if you're nt afraid to lose. And you can only do that if you truly accept the risks in front of you."- Sami Abussad > “The most important rule is to play great defense, not great offense. Every day I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum drawdown. Hopefully, I spend the rest of the day enjoying positions that are going in my direction. If they are going against me, then I have a game plan for getting out.”- Paul Tudor Jones > “First of all, never play macho man with the market. Second, never overtrade.”- Paul Tudor Jones > “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.”- Paul Tudor Jones > “Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead.”- Paul Tudor Jones > "The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.” – Philip Fisher > "There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer."- Jack Schwager > If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.- Bill Lipschutz > A trader looks for a consistency. The gambler looks for quick profit. > Listen to what the market is saying about others not what others are saying about the market. > In trading it's not about how much you make. It's about how much you don't loose. > In this business, if you're good, you're right six times out of ten. You're never going to be right ten out of ten times. - Peter Lynch > Hope is a bogus emotion that only costs you money. > One funny thing about market is that every time one person buys, another sells and both think they are astute. > Instead of hoping he must fear. Instead of fearing he must hope. He must fear his loss may develop into a much bigger loss, and hope that his profit may become a big profit. > Invest in your 20s. Be untouchable in your 30s. > "Stocks go down faster than they go up, but go up more than they go down." - @TomGardnerFool > If its good trade, try to make it a great trade. If its a bad trade, minimize losses. > When people start blaming government and policies, its beginning of a bear market. When everyone talks about the market, its exactly when the market will reverse. > The faster you want to make money, the quicker you will lose everything. > The money you lose on the market is the tax you pay market for your learning. > “People quietly buy when the market is red, and loudly sell when the market is green. Take note of this and trade accordingly.” > Sometimes as a trader you have one trade you're watching for that day. If you miss it, you **just have to smile and be happy for anyone who caught it, that you recognized the play and move onto the next one.** Missing opportunities is part of the game. **Don't FOMO late.** > Trading is easy. It's the mentality that separate the 5% from the rest of the 95%. > "The loss of money didn't bother me. Whenever I lost money in the stock market I always considered that I learned something; that if I have lost money I have gained experience, so that the money really went for a tuition fee. A man has to have experience and he has to pay for it." - Jesse Livermore > The primary job of the market speculator is not to find the next big winner. Rather the primary job is to properly manage the next losing trade. Finding big winners provides the thrills, but managing risk pays the bills. > The charts will feel like most bullish at the top and most bearish at the bottom. Learning to recongnize these tops and bottoms are the characteristics of a trader. Otherwise you are just guessing. ---- Type: [[Other/Obsidian Starter Vault(Second Brain)/🌻References/Trading]] [[💹Stock Market]]