I have two basic rules about winning in trading as well as in life: 1.) if you don’t bet, you can’t win; 2.) if you lose all your chips, you can’t bet. This is a quote by Larry Hite, a successful hedge fund manager, and it suggests that in both trading and life, taking risks

The market is a reflection of the collective human psyche. To be a successful trader, you need to understand yourself and your emotions, as well as the emotions of others in the market. This quote by Linda Raschke highlights an important aspect of trading: one must understand the human element of the market and how

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.This quote by Warren Buffet emphasizes the idea that predictions are often based on the biases and assumptions of the person making the prediction, rather than on any objective assessment of the future.In short, one reason why the future

“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.”This quote by Jack Schwager, the author of the Market Wizards series, suggests that there

The game taught me the game. And it didn’t spare me the rod while teaching.This quote by Jesse Livermore explains in simple terms how he learned to trade by staying in the game. He endured losses and spirit-breaking setbacks, but learned a huge amount from them. Reflections Know Your Probabilities Traders will often experience 5 losses in

If you personalize losses, you can’t trade.This quote is attributed to famous hedge fund manager Bruce Kovner. The basic idea is that losses are a reality of the market; and arguably, they’re also an important part of it since they provide valuable information and opportunities for growth and learning. Hence, if you become too attached