A Quote by Ed Seykota
To avoid whipsaw losses, stop trading.
Related Quotes
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.
You have to be okay with wins and losses. You can't just be looking for the wins and, when the losses happen, you can't buy more and more because you're sure it's going to bounce. We call that revenge trading.
The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don't cut their losses short.
The markets are unforgiving, and emotional trading always results in losses.
Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.
You know how on the evening news they always tell you that the stock market is up in active trading, or off in moderate trading, or trading in mixed activity, or whatever. Well, who gives a
We can prevent unfair advantage, and we can avoid the destabilizing effect that high frequency trading can have.
The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.
No company that I ever hacked into reported any damages, which they were required to do for significant losses. Sun didn't stop using Solaris and DEC didn't stop using VMS.
Let's stop trading freedom for the illusion of security.
Basically, what I do is place a stop, generally 10 to 20 percent below the current price, whenever I buy a stock. The exact level depends on my own analysis of a stock's trading pattern. If a stock violates this stop, I'm out.
...[We] must stop these swarms of Jews who are trading, bartering and robbing.
Whenever I take a position, I like to imagine what it would be like under the worst-case scenario. In doing so, I minimize the confusion if that situation actually develops. In my view, losses are a very important part of trading. When a loss happens, I believe in embracing it.
I don't know who will overcome losses, some losses aren't meant to be overcome, but all losses make for good stories and good character development and all the jazz that makes a show compelling and watchable.
In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.
Every time there are losses, there are choices to be made. You choose to live your losses as passages to anger, blame, hatred, depression and resentment, or you choose to let these losses be passages to something new, something wider, and deeper.
Related Authors
Jeff Yass Quotes
American
Trader
Jerome Kerviel Quotes
French
Trader
Jesse Lauriston Livermore Quotes
American
Trader
Linda Bradford Raschke Quotes
American
Trader
