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Wall Street works hard to make what they do,
which is nothing more than buying and holding,
appear complex and sophisticated.
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Losses are a cost of doing business.
If you don't have losses, your not taking risks.
If you don't risk, you won't win.
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To make money you must live with and accept volatility.
The fact that markets are volatile is not a problem.
The problem is you..... if volatility scares you.
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The more volatile the market the less you risk,
the less volatile the market, the more you want to risk.
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Always prepare for drawdowns after strong periods of performance.
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Trends become more apparent as you step further away from the chart.
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If you can't afford to lose, you can't afford to trade.
Your loses should be quantified before ever entering the trade.
Money is only a means of keeping score.
Trust your trade, if you cant trust it, don't trade.
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Fearless decision makers have a plan and execute it.
They don't look back.
Along the way if something changes,
their plan has flexibility built into it so they can adjust
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If you have realistic confidence in trend following and yourself,
then temporary setbacks don't matter.
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Trendfollowers are right for the trend and wrong at each end.
The exact turning point,
the top or bottom can never be known
until its over and a matter of record.
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If you want to be successful in the market
you have to be passionate about your trades.
Winners take responsibility, losers take blame.
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No one knows how high or how low a market will go.
No one knows when a market will move.
You can't undo the past and you can't predict the future.
Prices predict the future, not traders.
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Trading quotes & wisdom
by
M. Covel
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BUY THE RUMOR & SELL THE NEWS!
For investors to make money, one must anticipate events, NOT react to them.
James DiGeorgia; The New Bull Market in Gold
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