The possibilities were endless. Battles would be fought. Wonders revealed. Many journeys. Many lands. Many joys. Many sorrows. But stories all. . .
If you don’t stay with your winners, you are not going to be able to pay for the losers.
Being wrong is acceptable, but staying wrong is totally unacceptable.
Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price
The ability to change one's mind is probably a key characteristic of the successful investor. Dogmatic and rigid personalities rarely, if ever, succeed in the markets. The markets are a dynamic process, and sustained investment success requires the ability to modify and even change strategies as markets evolve.
One of my favorite patterns is the tendency for the markets to move from relative lows to relative highs and vice versa every two to four days. This pattern is a function of human behavior. It takes several days of a market rallying before it looks really good. That’s when everyone wants to buy it, and that’s the time when the professionals, like myself, are selling. Conversely, when the market has been down for a few days, and everyone is bearish, that’s the time I like to be buying.
You don't have to get in or out of a position all at once. Avoid the temptation of wanting to be completely right.
My nature is happy. And all I can control is my response to input. If you come around me and tell me bad news all the time, I can say, "You know what? I don't want to hear it. " If its just gossip, you know, I can choose not to hear it. And that, in effect, can control my mood.
New things always have to experience difficulties and setbacks as they grow. It is sheer fantasy to imagine that the cause of socialism is all plain sailing and easy success, without difficulties and setbacks or the exertion of tremendous efforts.
Mankind has only one science… its the science of discontent.
No one can be profoundly original who does not avoid eccentricity.