Being wrong is acceptable, but staying wrong is totally unacceptable. - Jack D. Schwager

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Quote of the day

Plants are the young of the world, vessels of health and vigor; but they grope ever upward towards consciousness; the trees are imperfect men, and seem to bemoan their imprisonment, rooted in the ground.

Jack D. Schwager

Being wrong is acceptable, but staying wrong is totally unacceptable.

Motivational, Staying, Unacceptable, Wise Words, Wrong

Same Author Quotes

Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price

Entirely, Focus, Important, Reality, Size, Trade

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.

Ability, Evolve, Investment Success, Keys, Rarely, Successful

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.

Behavior, Buying, Function, Good, Moving, Two

You don't have to get in or out of a position all at once. Avoid the temptation of wanting to be completely right.

Avoid, Position, Right, Temptation, Wanting

Good traders liquidate when they are wrong, great traders reverse when they are wrong

Good, Liquidate, Reverse, Traders, Wrong

Similar Quotes

Ralph Ellison

I am invisible, understand, simply because people refuse to see me.

African American, Black History, Invisible, People, Refuse, See

Ralph Waldo Emerson

Imprisonment, Men, Plants, Tree, Vessels, Vigor

Bruce H. Lipton

I was exhilarated by the new realization that I could change the character of my life by changing my beliefs. I was instantly energized because I realized that there was a science-based path that would take me from my job as a perennial “victim” to my new position as “co-creator” of my destiny. (Prologue, xv)

Changing, Character, Destiny, Jobs, Life, Take

Ignatius of Loyola

We must speak to God as a friend speaks to his friend, servant to his master; now asking some favor, now acknowledging our faults, and communicating to Him all that concerns us, our thoughts, our fears, our projects, our desires, and in all things seeking His counsel.

Asking, Desire, Desires, Faults, God, Prayer

Robert Frost

But he had gone his way, the grass all mown, And I must be, as he had been - alone, As all must be, I said within my heart, Whether they work together or apart.

Gone, Grass, Heart, Said, Together, Work