Courtesy of David, The Crosshairs Trader
POGO STICK STOCK MARKET THINKING
“I’m sure I am forgetting a few other rules I like to trade by, but this is a good list for starters!” (@2stt2318)
“Michael Mauboussin, Chief Investment Strategist of Legg Mason Capital Management, explains why it is getting harder to beat the market and why doing less can actually make you more.” (MICHAEL MAUBOUSSIN via WEALTHTRACK)
“In practical terms, being a successful investor requires overcoming the instinctual urge to respond emotionally to financial events—the environment of the moment.” (GREGG S. FISHER via FORBES)
“To know what goes on in the mind of a rogue trader – and that of every reckless gambler – it helps to be a bird-watcher.” (JOHN GAPPER via FT MAGAZINE)
“Three destructive habits that will kill your trading day, week, month, or career.” (ELI RADKE via TRADER HABITS)
“Traders drawn to the allure of quick riches are virtually certain to ignore proven methods and risk parameters, destroying their accounts as a result. The only path to trading riches is via consistent profits over the long run.” (FRANK KOLLAR via MONEY SHOW)
“Players actually tend to shoot a lower percentage after makes than after misses.” (JOHN MATSON via SCIENTIFIC AMERICAN)
“Excitement is often a major driver of the actions of newer traders. They want the action and get frustrated when there’s nothing going on.” (JOHN FORMAN via THE ESSENTIALS OF TRADING)
“Skillful risk-taking, disciplined money management and the ability to correctly size-up a situation — these are the characteristics of great asset managers.” (JOHN NAVIN via FORBES)
“Here are some rules from one of the most famous trading letter writers in the world to consider adding to your own.” (STEPHEN BURNS via NEW TRADER U)
“It seems as though it should be so easy to know yourself, but it’s very, very challenging.” (GRETCHEN RUBIN via PSYCHOLOGY TODAY)
