“It is 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”
George Soros
“It takes courage to be a pig.”
“Just keep hitting homeruns & preserving capital”
Stanley Druckenmiller
“They are free to trade any way they want, and to come and go as they please.”
“Any theory is good as long as it makes money”
“Never bucked a trend in prices”
“Never mind the cheese….let me out of the trap.”
Amos Hostetter. Founder of Commodities Corp.
“Not to go against the moving averages, it’s self-destructive”
“Know the amount you are willing to lose”
“Don’t break the rules”
“The most important thing is money management, money management, money management.”
“Let your gains run”
Martin Schwarz
“Cutting down the number of trades you make”
“The best trades are the ones in which you have all 3 things going for you”
- Fundamentals
- Technicals
- Market Tone
Michael Marcus
“Place my stop..that is too far or too difficult to reach easily”
“If you personalize your losses, you can’t trade.
“The price for a market on any given day is the correct price, then I try to figure out what changes are occurring that will alter that price.”
Bruce Kovner
“Don’t be a hero. Don’t have an ego.”
“Don’t EVER average losers”
“Decrease your trading volume when you are trading poorly”
“Always thinking about losing money as opposed to making money.”
Paul Tudor Jones
Summary of wisdom from Commodity Corp.
Don’t predict the future
But do react quickly
Cut your losses
Ride winners
