The desire to maximise the number of winning trades (or minimise the number of losing trades) works against the trader. The success rate of trades is the least important performance statistic and may even be inversely related to performance.
William Eckhardt
marți, 1 februarie 2011
Nothing New In Trading
That enormous profits should have turned into still more colossal losses, that new theories should have been developed and later discredited, that unlimited optimism should have been succeeded by the deepest despair, are all in strict accord with age-old tradition.
Benjamin Graham
Benjamin Graham
Immerse Yourself In The World Of Trading
"Understand that learning the markets can take years. Immerse yourself in the world of trading and give up everything else."
Linda Bradford Raschke
Linda Bradford Raschke
How Much Do You Make When You Are Right?
I have learned many things from him (George Soros), but perhaps the most significant is that it’s not whether you are right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
Stanley Druckenmiller
Stanley Druckenmiller
Markets Are Not A Random Walk
The markets are clearly not a random walk. The markets are not even efficient because that assumption implies you can’t make an above-average return. Since some people can do that, I disagree with the assumption.
Monroe Trout
Monroe Trout
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