Mark Weinstein
I use all forms of technical analysis, but interpret them through gut feel. I do not believe in mathematical systems that always approach markets in the same way. Using myself as the “system,” I constantly change the input to achieve the same output–profit!”
Mark Weinstein
Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey. It may hide in the bush for a week, waiting for just the right moment. It will wait for a baby antelope, and not just any baby antelope, but preferably one that is also so sick or lame. Only then, when there is no chance it can lose its prey, does it attack. That, to me, is the epitome of professional trading.
Mark Weinstein
I depended on my nervous system and gut reaction. I covered positions when I did not feel right about them. Sometimes it would be after two days; sometimes after two hours.
James B. Rogers, Jr.
Look for hysteria to see if you shouldn’t go the opposite way, but don’t go the opposite way until you have fully examined the situation. Also, remember that the world is always changing. Be aware of change. Buy change. You should be willing to buy or sell anything.
James B. Rogers, Jr.
Until we ran out of money, we were always leveraged to the hilt. When we bought something and ran out of money, we would look at the portfolio and push out whatever appeared to be the least attractive item at that point.
James B. Rogers, Jr.
One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. Most people–not that I’m better than most people–always have to be playing; they always have to be doing something.
Marty Schwartz
On the day of the crash, when I looked at my son in his crib, I thought, I don’t want him ever to ask me, “Dad, why didn’t you do everything you could have done?”
Marty Schwartz
That’s another example where my Maine training came into play. They teach you never to freeze when you are under attack. One of the tactics in the Marine Corps officer’s manual is either go forward or backward. Don’t just sit there if you are getting the hell beat out of you.
When did you turn from a loser to a winner?
Marty Schwartz
When I was able to separate my ego needs from making money. When I was able to accept being wrong. Before, admitting I was wrong was more upsetting than losing the money. I used to try to will things to happen. I figured it out, therefore it can’t be wrong. When I became a winner, I said, “I figured it out, but if I’m wrong, I’m getting the hell out, because I want to save my money and go on to the next trade.”
David Ryan
You want an increase in volume when the stock breaks out, but you want a decrease in volume as the stock consolidates.
