Charles schwartz quotes how to#

“If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money. What matters is your ability to use the information available at every moment to make the most appropriate decision. Ray Dalio reminds us of one fundamental truth about trading: we can’t predict the future with certainty, and interestingly, we don’t need to. They trade as if the present condition is the default condition of the market. So, they make many assumptions about the future, including the belief that what is happening at the moment would persist forever - the trend would continue or the range market would persist. Many traders think that it’s only when they know what would happen in the future that they can make money. They assume that something that was a good investment in the recent past is still a good investment.” “The biggest mistake investors make is to believe that what happened in the recent past is likely to persist.

Charles schwartz quotes how to#

“What is most important isn’t knowing the future - it is knowing how to react appropriately to the information available at each point in time.” When in a losing position that’s making you uncomfortable, get out - ideally, you should use a stop-loss order that would get you out before it gets uncomfortable. So, the primary goal is to protect your capital.Īnd how do you do that? Always be in control: trade a position size that won’t affect your emotions. Yes, the ultimate goal is to make money, but you can’t make a dime if you lose your capital. You may think that trading is all about making money. The legendary trader, Paul Tudor Jones, made these quotes on separate occasions, but apparently, he’s trying to pass the same message: protecting your trading capital is key to achieving any success in trading. “The most important rule of trading is to play great defense, not great offense.”

“Don’t focus on making money focus on protecting what you have.” “If you have a losing position that is making you uncomfortable, the solution is very simple: Get out…” “Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt.” Trading quotes #44 - Alphonse Fletcher Jr.Trading quotes #26 - Stanley Druckenmiller.Quotes about trading #23 - Alexander Elder.

Trading quotes #21 - Michael Steinhardt.Quotes about trading #18 - Marty Schwartz.

Forex trading quotes #17 - Mark Douglas.

Forex trading quotes #4 - Brett Steenbarger.