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Michael Marcus

The best trades are the ones in which you have all three things going for you: fundamentals, technicals, and market tone. First, the fundamentals should suggest that there is an imbalance of supply and demand, which could result in a major move. Second, the chart must show that the market is moving in the direction that the fundamentals suggest. Third, when news comes out, the market should act in a way that reflects the right psychological tone. For example, a bull market should shrug off bearish news and respond vigorously to bullish news.

Michael Marcus

I learned that if you shoot for what you want, you stand a much better chance of getting it because you care much more.

18. No ruler should put troops into the field merely to gratify his own spleen; no general should fight a battle simply out of pique.

If fighting is sure to result in victory, then you must fight, even though the ruler forbid it; if fighting will not result in victory, then you must not fight even at the ruler’s bidding.

12. There are five dangerous faults which may affect a general: (1) Recklessness, which leads to destruction; (2) cowardice, which leads to capture; (3) a hasty temper, which can be provoked by insults; (4) a delicacy of honor which is sensitive to shame; (5) over-solicitude for his men, which exposes him to worry and trouble.

33. It is a military axiom not to advance uphill against the enemy nor to oppose him when he comes downhill.

13. We are not fit to lead an army on the march unless we are familiar with the face of the country–its mountains and forests, its pitfalls and precipices, its marshes and swamps.

28. Do not repeat the tactics which have gained you one victory, but let your methods be regulated by the infinite variety of circumstances.

12. If we do not wish to fight, we can prevent the enemy from engaging us even though the lines of our encampment be merely traced out on the ground. All we need do is throw something odd and unaccountable in his way.

1. Sun Tzu said: Whoever is first in the field and awaits the coming of the enemy, will be fresh for the fight; whoever is second in the field and has to hasten to battle will arrive exhausted.