Dr. Van K. Tharp
If you are really committed, then not only are you certain that you are doing the right thing, but somehow events just seem to occur to help you. If you are really committed to being a trader, then you probably have an understanding at some level of what I’m talking about. You probably even understand that those events that help you might be big losses.
Dr. Van K. Tharp
Since most people in our culture are taught that only winning is acceptable, most investors must change their beliefs about losses to become successful.
Tony Saliba
Yes, and there is a high correlation between the action on a Friday and the follow–through on the next Monday–at least on the opening.
Tom Baldwin
In most cases, if you don’t give up, you might be able to turn a five-yard loss into a two-yard loss.
Brian Gelber
Most traders who fail have large egos and can’t admit that they are wrong. Even those who are willing to admit that they are wrong early in their careers can’t admit it later on. Also, some traders fail because they are too worried about losing.
Brian Gelber
About two weeks ago, a very bright fellow who works for me said, “This is a very frustrating business. It doesn’t matter how hard I work; it has no bearing on whether I make money or not.” You have to know yourself and put that knowledge to work in the market.
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.
