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Trading technicals:
"I haven't met a rich technician" - Jim Rogers.
"I always laugh at people who say "I've never met a rich technician" I love that! Its such an arrogant, nonsensical response. I used fundamentals for 9 years and got rich as a technician" - Marty Schwartz.
Diversification:
"Diversify your investments" - John Templeton.
"Diversification is a hedge for ignorance" - William O'Neil.
Picking tops & bottoms:
"Don't bottom fish" - Peter Lynch.
"Don't try to buy at the bottom or sell at the top" - Bernard Baruch
"Maybe the trend is your friend for a few minutes in Chicago, but for the most part it is rarely a way to get rich" - Jim Rogers.
"I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been
missing the meat in the middle but I have made a lot of money at tops and bottoms." - Paul Tudor Jones.
So is there anything they do agree on? Just one: money management
"My basic advise is don't lose money" - Jim Rogers.
"I'm more concerned about controlling the downside. Learn to take the losses. The most important thing about making money is not to let your losses get out of hand." - Marty Schwartz.
"I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have" - Paul Tudor Jones.
"Rule number one of investing is never lose money. Rule number two is never forget rule number 1" - Warren Buffet.
"If you have an approach that makes money, then money management can make the difference between success and failure... ... I try to be conservative in my risk management. I want to make sure I'll be around to play tomorrow. Risk control is essential." - Monroe Trout
"If you personalize losses, you can't trade." - Bruce Kovner
"The best traders have no ego. You have to swallow your pride and get out of the losses." - Tom Baldwin
"Never risk more than 1% of your total equity in any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical." - Larry Hite.
"I haven't met a rich technician" - Jim Rogers.
"I always laugh at people who say "I've never met a rich technician" I love that! Its such an arrogant, nonsensical response. I used fundamentals for 9 years and got rich as a technician" - Marty Schwartz.
Diversification:
"Diversify your investments" - John Templeton.
"Diversification is a hedge for ignorance" - William O'Neil.
Picking tops & bottoms:
"Don't bottom fish" - Peter Lynch.
"Don't try to buy at the bottom or sell at the top" - Bernard Baruch
"Maybe the trend is your friend for a few minutes in Chicago, but for the most part it is rarely a way to get rich" - Jim Rogers.
"I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been
missing the meat in the middle but I have made a lot of money at tops and bottoms." - Paul Tudor Jones.
So is there anything they do agree on? Just one: money management
"My basic advise is don't lose money" - Jim Rogers.
"I'm more concerned about controlling the downside. Learn to take the losses. The most important thing about making money is not to let your losses get out of hand." - Marty Schwartz.
"I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have" - Paul Tudor Jones.
"Rule number one of investing is never lose money. Rule number two is never forget rule number 1" - Warren Buffet.
"If you have an approach that makes money, then money management can make the difference between success and failure... ... I try to be conservative in my risk management. I want to make sure I'll be around to play tomorrow. Risk control is essential." - Monroe Trout
"If you personalize losses, you can't trade." - Bruce Kovner
"The best traders have no ego. You have to swallow your pride and get out of the losses." - Tom Baldwin
"Never risk more than 1% of your total equity in any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical." - Larry Hite.
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