Tema: Refranes - Frases Famosas

Famous Investing and Trading Quotes
Trading Journal

"Show me a trader with good records, and I'll show you a good trader."

- Dr. Alexander Elder

"The fruits of your trading or investment success will be in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions. You cannot wisely read a book on ‘ how to keep fit' and leave the physical exercise to another. "

- Jesse Livermore

Risk Management

"Risk comes from not knowing what you're doing."

- Warren Buffet

Money Management

"It's not whether you're 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."

- George Soros

"If you have an approach that makes money, then money management can make the difference between success and failure... ... I try to be conservative in my risk management. I want to make sure I'll be around to play tomorrow. Risk control is essential. "

- Monroe Trout

"Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool - remove one and the stool will fall, together with the person who sits on it. Losers try to build a stool with only one leg, or two at the most. They usually focus exclusively on trading systems. Your trades must be based on clearly defined rules. You have to analyze your feelings as you trade, to make sure that your decisions are intellectually sound. You have to structure your money management so that no string of losses can kick you out of the game."

- Dr. Alexander Elder

"The most important advice is to never let a loser get out of hand. You want to be sure that you can be wrong twenty or thirty times in a row and still have money in your account. When I trade, I'll risk perhaps 5 to 10 percent of the money in my account. If I lose on that trade, no matter how strongly I feel, on my next trade I'll risk no more than about 4 percent of my account. If I lose again, I'll drop the trading size down to about 2 percent. I'll keep on reducing my trading size as long as I'm losing. I've gone from trading as many as three thousand contracts per trade to as few as ten. "

- Randy McKay

"All traders make mistakes, great traders, however, limit the damage."

- Unknown

"My trading style blends both the risk-oriented and conservative personality of my personality. I take the risk-oriented part of my personality and put it where it belongs to : trading. And, I take the conservative part of my personality and put it where it belongs to money management. My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds. "

- Randy McKay

"I'm more concerned about controlling the downside. Learn to take the losses. The most important thing about making money is not to let your losses get out of hand. "

- Marty Schwartz

"I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have."

- Paul Tudor Jones

Edge

"To succeed as a trader, it is absolutely necessary to have an edge. You can't win without an edge, even with the world's greatest discipline and money management skills. If you don't have an edge, all that money management and discipline will do for you is to guarantee that you will gradually bleed to death. Incidentally, if you don't know what your edge is, you don't have one. "

- Jack Schwager

"Make sure that you have the edge. Know what your edge is and employ rigid risk control rules. Basically, when you get down to it, to make money, you need to have an edge and employ good money management. Good money management alone isn't going to increase your edge at all. If your system isn't any good, you're still going to lose money, no matter how effective your money management rules are. But if you have an approach that makes money, then money management can make the difference between success and failure "

- Monroe Trout

Technicals

"We use technical analysis not because we think it means something, but because other people think it means something. We are always looking for market participants to take us out of a trade, and in that sense, knowing the technical points at which people are likely to be buying or selling is helpful"

- Michael Masters

Fundamentals

"A great company could be a terrible investment if its price has already more than discounted the bullish fundamentals. Conversely, a company that has been experiencing problems and is the subject of negative news could be a great investment if its price decline has more than discounted the bearish information. Fundamentals are not bullish or bearish in a vacuum, they are bullish or bearish only relative to price. "

- Jack Schwager

Trading Systems

"Don't worry about what the markets are going to do, worry about what you are going to do in response to the markets."

- Unknown

"I believe that systems tend to be more useful or successful for the originator than for someone else. It's more important that an approach be personalized: otherwise, you won't have the confidence to follow it. It's unlikely that someone else's approach will be consistent with your own personality. It's also possible that individuals who become successful traders are not the type to use someone else's approach and that successful traders don't sell their systems "

- Gill Blake

Discipline

"Chains of habit are too light to be felt until they are too heavy to be broken."