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“The more you understand the concept you are trading, how it might behave under all sorts of market conditions, the less historical testing you need to do.” Tom Basso

“We typically trade our beliefs about the market and once we’ve made up our minds about those beliefs, we’re not likely to change them. And when we play the markets, we assume that we are considering all of the available information. Instead, our beliefs, through selective perception, may have eliminated the most useful information.” Van K. Tharp

“Knowledge arises from experience. Just as a musician practices diligently to become a concert pianist and an athlete spends uncounted hours on the court to become a great tennis player, a trader must gain experience through actual trading to become an expert trader.” James F. Dalton

“… remember that both in short-term trading and mechanical systems, the distribution of winners is skewed. Most of a month’s profits might come from only two or three big trades. Much of the time the individual profits may seem small, but more importantly the losses should be small too.” Larry Conners

“If you don’t know who you are, the stock market is an expensive place to find out.” George Goodman

“It never was my thinking that made big money for me. It was always my sitting. Got that? My sitting tight!” Jesse Livermore

“You learn to distinguish the good traders from the bad, the successful techniques from the unsuccessful, and the good habits from the faulty. You also learn to distinguish the lover from the fighter, the winners from the losers, the serious from the frivolous, the cerebral from the superficial, and the friend from the foe. But above all, you learn that … Read More

“The way to build superior long-term returns is through preservation of capital and home runs…When you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig.” Stanley Druckenmiller