1 important lesson from each millionaire traders:
• Jesse Livermore
• Alexander Elder
• Paul Tudor Jones
• Bill Lipschutz
• Timothy Sykes
• Nicholas Darvas
• Peter Brandt
• Mark Minervini
• Linda Raschke
• Qullamaggie
• Jesse Stine
• David Ryan
• Stan Weinstein
• Jesse Livermore
• Alexander Elder
• Paul Tudor Jones
• Bill Lipschutz
• Timothy Sykes
• Nicholas Darvas
• Peter Brandt
• Mark Minervini
• Linda Raschke
• Qullamaggie
• Jesse Stine
• David Ryan
• Stan Weinstein
Don't make the mistake of holding onto losing trades and selling profitable ones. Averaging losses is a huge blunder. Instead, sell when you're in the red and hold onto the green. Cut your losses, let your profits grow.
― Jesse Livermore
― Jesse Livermore
To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets, and wishful thinking.
― Alexander Elder
― Alexander Elder
Exiting losing trades is crucial for risk management in trading. If a position goes against you, get out; if it goes in your favor, hold on. Prioritize risk control—don't hesitate to exit a losing trade, as you can always reenter later.
― Paul Tudor Jones
― Paul Tudor Jones
I set a predetermined stop loss for every position I enter, ensuring a good night's sleep. My exit point is determined before entry, with position size based on the stop loss. I always place my stop beyond some technical barrier.
— Bruce Kovner
— Bruce Kovner
I don’t think you can consistently be a winning trader if you’re banking on being right more than 50% of the time. You have to figure out how to make money being right only 20 to 30% of the time.
— Bill Lipschutz
— Bill Lipschutz
Every investment mistake is a result of one thing. Either the wrong investment was purchased, or the investment was purchased at the wrong time.
— Timothy Sykes
— Timothy Sykes
Not all stocks at 52-week highs are expensive, and not all stocks at 52-week lows are cheap. A stock cannot become a multibagger without repeatedly crossing its all-time high.
— Nicholas Darvas
— Nicholas Darvas
New and aspiring traders should focus on handling losses, understanding their significance, managing losing trades, and embracing them as part of the journey towards winning. Successful traders excel at being good losers.
— Peter Brandt
— Peter Brandt
When you replace your futile efforts of trying to call bottoms and tops and predicting what might happen with managing risk vs. reward in real time. You will then have a real chance at consistency and superior performance.
— Mark Minervini
— Mark Minervini
All you need is one pattern to make a living.
— Linda Raschke
— Linda Raschke
Focus on quality setups. If you trade random setups, your results are gonna be random too.
— Qullamaggie
— Qullamaggie
On a subconscious level, more than 99% of the investors will invest in a company they "like" rather than a stock that will make them money.
— Jesse Stine
— Jesse Stine
Having a profits on the first day is one of the best indicators that you are going to make money on the trade.
— David Ryan
— David Ryan
Never hold a stock that is in a downtrend no matter how low the PE ratio. Many weeks later and several points later, you will find out why the stock was going down.
— Stan Weinstein
— Stan Weinstein
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I regularly update my latest stocks ideas, strategies, sector rotation, and market breadth analysis, so be sure to follow me for valuable insights and updates on the world of stock market.
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