A Quote by Gary B Smith
You must ignore what everyone else is doing and trade only when you feel the odds are in your favor. In short, trade only when you and you alone are comfortable that the expected return of your trades will be positive. That might mean you'll have to sit out a few parties, but it will also mean that you'll have more profits over the course of your trading career.
Related Quotes
There will be a few times in your life when all your instincts will tell you to do something, something that defies logic, upsets your plans, and may seem crazy to others. When that happens, you do it. Listen to your instincts and ignore everything else. Ignore logic, ignore the odds, ignore the complications, and just go for it.
Most private traders on a losing streak keep trying to trade their way out of a hole. A loser thinks a successful trade is just around the corner, and that his luck is about to turn. He keeps putting on more trades and increases his size, all the while digging himself a deeper hole in the ice. The sensible thing to do would be to reduce your trading size and then stop and review your system.
I basically learned that you must get out of your losses immediately. It's not merely a matter of how much you can afford to risk on a given trade, but you also have to consider how many potential future winners you might miss because of the effect of the larger loss on your mental attitude and trading size.
There is a lot of corruption all over the world and not only when it comes to illegal wildlife trade! There are a few ways to ensure this stops: If there are no customers, there will be no trade.
You have nothing in this world more precious than your children. When you grow old, when your hair turns white and your body grows weary, when you are prone to sit in a rocker and meditate on the things of your life, nothing will be so important as the question of how your children have turned out... Do not trade your birthright as a mother for some bauble of passing value... The baby you hold in your arms will grow as quickly as the sunrise and the sunset of the rushing days.
But you're almost eighteen. You're old enough. Everyone else is doing it. And next year someone is going to say to someone else 'but you're only sixteen, everyone else is doing it' Or one day someone will tell your daughter that she's only thirteen and everyone else is doing it. I don't want to do it because everyone else is doing it.
Think for yourself. Unplug yourself from follow-the-follower groupthink, and virtually ignore what everyone else in your industry is saying (except the ones everyone agrees is crazy). Do your own research, draw your own conclusions, set your own course, and stick to your guns. When you're just starting out, people will tell you you're wrong. After you've blown past them, they'll tell you you're crazy. A few years after that, they'll (privately) ask you to mentor them.
You grow most in your areas of greatest strength. You will improve the most, be the
most creative, be the most inquisitive, and bounce back the fastest in those areas
where you have already shown some natural advantage over everyone else your strengths. This doesn't mean you should ignore your weaknesses. It just means
you'll grow most where you're already strong.
Find your passion is in life, and do what you can to integrate that into your work life. That's not to say you won't have occasional frustrations in your job - that just goes with the territory - but at least you'll feel better inside, and that, over time, will mean more to you than you might think.
Celibacy can only be spontaneous, there is no other type of celibacy. If it is not spontaneous, it is not celibacy. You can force it. you can control your sexuality, but that is not going to help. You will not be celibate, you will be only more and more sexual. Sex will spread all over your being. It will become part of your unconscious. It will move your dreams, it will become your motivation in dreams, it will become your fantasy. In fact, you will become more sexual than you ever were before. You will think more about it and you will have to repress it again and again.
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.
When you share your misery, it will not diminish. When you fail to share your joy, it diminishes. Share your problems only with the Divine, not with anyone else, as that will only increase the problems. Share your joy with everyone. Listen to others; yet do not listen. If your mind gets stuck in their problems, not only are they miserable, but you also become miserable.
The gods have been good to you. But what the gods give they quickly take away. You have only a few years in which to live really, perfectly, and fully. When your youth goes, your beauty will go with it, and then you will suddenly discover that there are no triumphs left for you, or have to content yourself with those mean triumphs that the memory of your past will make more bitter than defeats. Every month as it wanes bring you nearer to something dreadful. Time is jealous of you, and wars against your lilies and your roses.
To reach beyond what you are you must ignore the rules and fashions of the day. Or perhaps better yet cast them way out in your peripheral vision where you can still see them but only as a vague reference point. This doesn’t mean that all the rules are gone. It might mean that you adopt a far tighter code of conduct to ensure the necessary level of intensity and adventure.
If you trade with someone and they are your biggest trading partner, it is impossible you don't have trade issues.
Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.
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