Trading Wisdom:
Temperament costs traders more than ignorance. Learn to master your emotions and execute trades based on logic and probabilities. Never use the term “hope” to describe a trade. If you don’t know “why” a stock is going to go up or down, you shouldn’t make the trade. Hope is not part of the equation.
This one from Uncle Al:
It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making.
Alan Greenspan
Huh???
Temperament costs traders more than ignorance. Learn to master your emotions and execute trades based on logic and probabilities. Never use the term “hope” to describe a trade. If you don’t know “why” a stock is going to go up or down, you shouldn’t make the trade. Hope is not part of the equation.
This one from Uncle Al:
It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making.
Alan Greenspan
Huh???
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