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I think the most intellectual trait someone can have is being able to correctly identify their own weaknesses and areas where they don't have knowledge more so than demonstrating knowledge in a field.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
I just noticed this thread but I've been putting together some trading one liners for a while in my journal. I'm sure some, or maybe a lot, of them are from things I've read, but it's something that made sense to me at the time so I put it in there, here's a few:
-This is a world-class competition for money, I hope you prepared.
-If you seek steady profits with no risk, get a job.
-The market has an insatiable appetite for hope.
Work harder on yourself than you do on your job.
-Jim Rohn
By failing to prepare, you are preparing to fail.
-Ben Franklin
Stay committed to your decisions, but stay flexible in your approach.
Tony Robbins
These are my favourite (almost)-one liners from the Market Wizards:
I think that, in the end, losing begets losing. When you start losing, it touches off negative elements in your psychology; it leads to pessimism.
-Marcus
First, I would say that risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice.
-Bruce
The correct approach is to say: This structure means up, and this structure means up no more, but never that this structure means up this much and no more.
-Dennis
The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.
-Ed
Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey. It may hide in the bush for a week, waiting for just the right moment. It will wait for a baby antelope, and not just any baby antelope, but preferably one that is also sick or lame. Only then, when there is no chance it can lose its prey, does it attack. That, to me, is the epitome of professional trading.
-Mark
I like to make money gradually at first and then play with the money I have made.
-Brian
I've got a summary PDF of the book if anyone wants it, ask for it and it's yours. (if this is wrong then let me edit this out, please?)
"History has demonstrated that the most notable winners usually encountered heartbreaking obstacles before they triumphed. They won because they refused to become discouraged by their defeats."
- When archers shoot for enjoyment, they have all their skill; when they shoot for a brass buckle, they get nervous; when they shoot for a prize of gold, they begin to see two targets.
— Chuang Tzu
