A Quote by Michael Covel

Your trading needs to boil down to rules, money management, and that is it.

Michael Covel

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Boil Down Management Money Money Management Needs Rules Trading Your

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Michael Covel
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Born: September 1, 1968

Good money management alone isn't going to increase your edge at all. If your system isn't any good, you're still going to lose money, no matter how effective your money management rules are. But if you have an approach that makes money, then money management can make the difference between success and failure.

Monroe Trout

Successful trading depends on the 3M`s - Mind, Method and Money. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options or futures as well as firm rules for pulling the trigger - deciding when to buy and sell. Money refers to how you manage your trading capital.

Alexander Elder

Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.

Alexander Elder

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.

Paul Tudor Jones

All of management's efforts for Kaizen boil down to two words: customer satisfaction.

Masaaki Imai

I'll keep reducing my trading size as long as I'm losing My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds.

Randy McKay

It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.

Charlie Munger

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.

Ed Seykota

Over the long run, many of Perry's stances boil down to following the money.

Gail Collins

Regardless of what we think we know and should happen the reality is that a lot of stock action is random. Therefore, money management is crucial if you want to be successful as a trader. To me, it`s the cornerstone of both making a living at trading and building wealth.

Jeff Cooper

The first rule of trading - there are probably many first rules - is don't get caught in a situation in which you can lose a great deal of money for reasons you don't understand.

Bruce Kovner

When Donald Duck traded his wings for arms, was he trading up or trading down?

Douglas Coupland

Any executive, any CEO should not have 1 management style. Your management style needs to be dictated by your employee.

Keith Rabois

While some rules are necessary and good for us, living a life based on others' rules, needs, and expectations can stifle your self-expression and creativity, and keep a lid on your potential.

Lauren Mackler

You must set down all the rules to your cat at the beginning of your relationship. You cannot add rules as you go along. Once these rules are set, you must never, under any circumstances, break any of them. Dare to break a rule, and you will never live it down. Trust me.

Kathy Young

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.

Victor Sperandeo

A Quote by Michael Covel

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