Monday, November 11, 2013

Lessons learned from Quotes of Famous Guru

Few things i learned from the Guru's quote that i think if anyone who is want to make money in trading should follow.
1) Managing Risk, especially Risk of Ruin
2) Have a plan to Win, if you dont plan for yourself, you will fall into other people's plan.
3) Follow the Trend, almost all the successful and consistent trader trade trend.
4) Controlling Emotions, Ego, Anger, disappointment, Sadness, Anxiety... etc, All good traders go through these..
5) Learn how to win big by adding to your Winner

“I have two basic rules about winning in trading as well as in life: 1. If you don’t bet, you can’t win. 2. If you lose all your chips, you can’t bet.” - Larry Hite

"If you diversify, control your risk, and go with the trend, it just has to work." -Larry Hite

“It’s all about sticking to your plan and experiencing feelings as they arise. If you are unwilling to feel your feelings, the temptation is to avoid them by jumping off your system.” -Ed Seykota

"Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead." -Paul Tudor Jones

"It's not whether you're 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