Successful trading is always an emotional battle for the speculator, not an intelligent battle.
- Jesse Livermore - Topics: Trader, Stock Market, Wall Street.
It pays to write down your plan. You need to know exactly under what conditions you will enter and exit a trade. Do not make decisions on the spur of the moment, when you are vulnerable to being sucked into the crowd. Plans are created by reasoning individuals. Impulsive trades are made by sweaty group members.
- Alexander Elder - Topics: Trader, Stock Market.
Remember, your goal is to trade well, not to trade often.
- Alexander Elder - Topics: Trader, Stock Market, Wall Street.
There is only one side of the market and it is not the bull side or the bear side, but the right side.
- Jesse Livermore - Topics: Trader, Stock Market.
When all the experts and forecasts agree, something else is going to happen.
- Bob Farrell - Topics: Wall Street, Trader, Stock Market, Investing.
Succesful institutional traders often talk of quitting and going to trade for themselves. Only a handful of them manage to make the transition. Most traders who leave institutions get caught up in the emotions of fear, greed, elation, and panic when they start risking their own money.
The pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.
People who exit the stock market to avoid a decline are odds-on favorites to miss the next rally.
- Peter Lynch - Topics: Wall Street, Trader, Stock Market, Opportunity, Investing.
The stock market will do whatever it has to do to embarrass the greatest number of people to the greatest extent possible.
- Walter Deemer - Topics: Trader, Stock Market, Wall Street.
I believe that anyone who is intelligent, conscientious, and willing to put in the necessary time can be successful on Wall Street. As long as they realize the market is a business like any other business, they have a good chance to prosper.
When the market deviates from your analysis, you have to cut losses without fuss or emotions.
- Alexander Elder - Topics: Trader, Money Management, Wall Street.
In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
- Peter Lynch - Topics: Trader, Stock Market, Investing.
It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.
- George Soros - Topics: Trader, Stock Market, Investing.
It is essential to wait for trades with a good risk / reward ratio. Patience is a virtue for a trader.
- Alexander Elder - Topics: Wall Street, Trader, Money Management.
If everybody's waiting for a bounce to sell, either the market doesn't bounce or, if it does, you shouldn't sell into it.
- Bob Farrell - Topics: Wall Street, Trader.
There are only three ways a smart person can go broke: liquor, ladies and leverage.
- Charlie Munger - Topics: Trader.
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.
- William Feather - Topics: Wall Street, Trader, Stock Market, Investing.
Another lesson I learned early is that there is nothing new in Wall Street. There can't be because speculation is as old as the hills.
If you let the market make you feel high or low, you will lose money.
Any fool can buy a company. You should be congratulated when you sell.
- Henry Kravis - Topics: Stock Market, Investing, Trader, Wall Street.
It took me five years to learn to play the game intelligently enough to make big money when I was right.
Many traders ride an emotional roller coaster and miss the essential element of winning: the management of their emotions.
- Alexander Elder - Topics: Stock Market, Trader, Wall Street.
I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.
- Paul Tudor Jones - Topics: Stock Market, Trader, Wall Street.
The goal of the good trader, paradoxically, is not to make money. His goal is to trade well.
- Alexander Elder - Topics: Trader.
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