We simply attempt to be fearful when others are greedy, and to be greedy only when others are fearful.
-Warren Buffet
Patience is the key to success not speed.
Time is a cunning speculator’s best friend if he uses it right.
-Jesse Livermore
“Every moment in the market is unique….and you don’t need to know what is going to happen next to make money.”
-Mark Douglas
I have learned many things from him (George Soros), but perhaps the most significant is that it’s not whether you are 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.
-Stanley Druckenmiller
“Volatility is greatest at turning points, diminishing as a new trend becomes established.”
-George Soros
In the stockmarket – time is not money – time is time and money is money.
Often money that is just sitting can later be moved into the right situation at the right time and make a vast fortune – patience – patience.
-Jesse Livermore
“When trading macro, you never have a complete information set or information edge the way analysts can have when trading individual securities. It’s a hell of a lot easier to get an information edge on one stock than it is on the S&P 500. When it comes to trading macro, you cannot rely solely on fundamentals; you have to be a tape reader, which is something of a lost art form.”
-Paul Tudor Jones
“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.”
-Larry Hite
“The key is consistency and discipline. Almost anybody can make up a list of rules that are 80% as good as what we taught. What they can’t do is give (people) the confidence to stick to those rules even when things are going bad.”
-Richard Dennis
“If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner.”
-Paul Tudor Jones
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