A Quote by Steven A. Cohen
The way I understand the rules on trading on inside information, it's very vague.
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Why are people who are appalled at insider trading so quick to trade on inside information when it comes their way?
I have very little respect for the integrity of the trading on the exchange in most stocks. And I have particular disdain for the fact that the SEC has failed to deal with high-frequency traders who are doing nothing more than taking advantage of inside information, a buy or a sell order, because of technology advantages.
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.
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.
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.
A person talks in such generalities that everyone can understand him and it's considered to be some deep philosophy. However, I would like to be very rather more special and I would like to be understood in an honest way, rather than in a vague way.
The longer I operated on Wall Street the more distrustful I became of tips and inside information of every kind. Given time, I believe that inside information can break the Bank of England
I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people. What they couldn’t do is give them the confidence to stick to those rules even when things are going bad.
Drawing is not only a way to come up with pictures: drawing is a way to educate your eye to understand visual information, organizing it into a more hierarchical way, a more economical way. When you see something, if you draw often and frequently, you examine a room very differently.
The mountains have rules. they are harsh rules, but they are there, and if you keep to them you are safe. A mountain is not like men. A mountain is sincere. The weapons to conquer it exist inside you, inside your soul.
The concept of the "information society" is both vague and all-embracing. Different participants meant different things by it. In practice, though, World Summit on the Information Society only dealt with a small number of issues: ICTs and human rights (to some extent), ICTs and development (to some extent), infrastructure finance and Internet governance. Very large aspects of what might have been included in the "information society" were not really discussed.
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.
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 can't love by desiring an extremely vague desire of a very vague moon.
Creating a Financial Transactions Tax would go a long way to curbing short-term speculative trading, including high-frequency trading.
I understand that flamenco has very specific rules and codes, and there's the weight of tradition, so I can understand when people do not enjoy something that is more heterodox.
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