Trading Qoutes

The best traders I know are really quite brilliant, and they all work very hard – much harder than anyone else. By the way, when I talk about working hard, I mean commitment and focus: it has nothing to do with how many hours you spend in the office. These traders have tremendous commitment to the markets – to their craft so to speak. They develop scenarios, reevaluate scenarios, collect information and reevaluate that information. – BILL LIPSCHUTZ

We all go through periods when we’re out of sync with market. When I’m doing things correctly, I tend to expand my rate of involvement in the market. Conversely, when I start losing, I cut back my position size. The idea is to lose as little as possible while you’re in a losing streak. Once you take a big hit, you’re always on the defensive. In all the months I lost money, I always ended up trading small – sometimes trading as little as 1 percent of the account. – VICTOR SPERANDEO

You have to be able to think clearly and act decisively in a panic market. The markets that go wild are the ones with the best opportunity. Traditionally, what happens in a market that goes berserk is that even veteran traders will tend to stand aside. That’s your opportunity to make the money. – MARK RITCHIE

Trade infrequently and only when you have a strong idea. Trade the opposite side of the predominant news stories. Time your trade to coincide with an event that has the potential to lead to a panic climax. These are my three rules for directional trading. – BLAIR HULL

“Trade what you see, Not what you think”