Quotations

This page contains many market quotations from traders and investors that have had an impact on my learning and thinking, the page will grow as and when I find more quotations that I think deserves publicity:

“If you screw up and do something stupid, learn from the mistake, don’t pretend you didn’t make it.  Then figure out how to avoid making the same mistake in the future.  Blaming others for your mistakes is a sure way to lose” Curtis Faith (Turtle)

“Trade right, you don’t have to be right.  Just play your system” Curtis Faith (Turtle)

You can buy Curtis Faiths book here:        

“Don’t be a dick for a tick” John Carter

“The markets don’t move because they want to, they move because they have to” John Carter

You can buy John Carter’s book here:        

“Remember when time, price & pattern coincide, change is inevitable” Robert Miner

“An indicator position is a very reliable signal that a market is at or near the end of a correction against the main trend” Robert Miner

“Momentum indicators show momentum, not price” Robert Miner

“Capital preservation is the key to long-term successful trading” Robert Miner

You can buy Robert Miners book here:          

“Regardless of your preferred trading weapon, the challenge remains the same: being in sync with the rhythm and momentum of the markets.  Aim is to exploit momentum” Gary Smith

“Wealth Creation involves a systematic & disciplined compounding of trading capital over time.  As capital accumulates & compounds each year, so will trading profits” Gary Smith

“Trade the Trend, cut your losses and use a trailing stop as you allow your profits to run.  The only thing that matters is price action itself” Gary Smith

“The stock market is always right and best tells its own story” Gary Smith

“One reason traders fail is that they are adept at self-delusion! They are afraid to learn where & why they erred.  Some are just plain lazy!” Gary Smith

“Be profitable EVERY month should be a goal” Gary Smith

“When nearly all speculators are bullish, the market invariably declines and when nearly all speculators are bearish, the market invariably rises” Gary Smith

“The psychological aspects of trading, are what ultimately determine your success or failure.  A traders style is often mandated by their brain dominance” Gary Smith

“Money management is all about discipline and how you handle risk” Gary Smith

“There’s no if’s, buts or maybe’s – either the market immediately responds in my favour or I exit my position” Gary Smith

“My take is that gambling, unlike trading, is where the house has a statistical edge.  Without an edge, all the money management strategies in the world won’t give the gambler a positive expectation.  Unlike the casino & games of chance, the stock market offers all sorts of statistical edges & biases” Gary Smith

“My secret to beating the S&P500 is very simple: While I sometimes miss the big up days, I always miss the major declines!  Some buy & hold investors may question this but major declines do not come out of the blue, there is always some type of momentum change before the real carnage begins!” Gary Smith

“Offering advice without expertise is aggressive ignorance!” Gary Smith

You can buy Gary Smith’s book here:          

“If I have the data, I can tell by the study of cycles when a certain event will occur” W.D. Gann

“Every 20-25 years a new generation comes along, creating booms and busts in the markets” W.D. Gann

“Bull markets begin in gloom and end in glory” W.D. Gann

“Panic’s will come and bull markets will follow as long as the world stands – FACT!” W.D. Gann

“If you will only study the weakness of human nature and see what fools these mortals be, you will find it easy to make profits by understanding the weakness of human nature and going against the public and doing opposite of what other people do” W.D. Gann

“Human nature never changes and it is why prices swing from one extreme to another.  People get too hopeful and optimistic when prices are high, then when prices reach extreme lows, they get too blue, too pessimistic and over-sell”  W.D. Gann

“In the arena of investing and speculating, reality is literally turned upside down.  One of the great character qualities that have made the US so great is HOPE. The entrepreneurial spirit maintains hope and resolve in the face of seeming insurmountable adversity and challenges.  This indomitable spirit is the engine behind innovation.  Unfortunately, this same character quality is disastrous in the arena of investing and speculating.  Holding doggedly to ones opinion in the markets is one of the greatest causes of losses on the markets.  The markets demand submission and flexibility” W.D. Gann

“Time Cycles repeat because human nature does not change.  That is why wars occur at regular CYCLES.  Old men do not want wars, neither do they want to go into war after they have been through one.  Young men fight the wars because they want to be heroes.  Leaders of nations appeal to the young men who have no experience, and induce them to fight.  The same desire in men that urges them to risk their lives in war causes them to take a chance in business and in speculation.  They take too many chances and get too optimistic after a long period of success in business and after prolonged advances in Stocks and Commodities.

Natures laws are unchangeable and no man or set of men can change them.  The New Dealers have not proved that they can stop inflation.  They claim they can prevent DEPRESSION and PANICS, but no one has succeeded in doing it in the past and the next few years will prove that our government leaders cannot stop a DEPRESSION by waste and spending.”  W.D. Gann

“Study the TIME cycles you will learn why tops & bottoms are formed at certain times.  Everything moves in cycles as a result of the natural law of action & reaction” W.D. Gann

You can buy W.D. Gann’s books here:              

            

“But what actually registers in the stock markets fluctuations are not the events themselves but the human reactions to those events.  In short, how millions of those traders feel these happenings may affect their future.  Above all else the stock market is people, it is people trying to read the future, in which traders pit their conflicting judgements, their hopes and fears, strengths and weaknesses, greed and ideals” Bernard Baruch (Adviser to Presidents!)

You can buy Bernard’s book here:            Baruch: My Own Story

“Remember the markets don’t know you, it has no interest in you or your life, has no feeling for or against you and it does not care whether you make money or lose money – The market will do as it wishes at any time, regardless of what YOU want or need it to do” The HOVIS Trader

“I trade hard facts, not hearsay, rumour or other people’s views – just plain facts printed by price action” The HOVIS Trader

“The markets are in effect an ever-changing ocean of beliefs about future price.  Future price meaning will the price move higher or lower from its present position”

“A professional traders job is to take small losses period!!”

“Only fools test the depths of the water with both feet” African Proverb

“If I bought a stock and it went against me, I would sell it immediately.  You can’t stop and try to figure out why a stock is going in the wrong direction.  The fact is that it is going in the wrong direction, and that is enough evidence for me” Jesse Livermore

You can buy Jesse Livermore’s books here:                   

“Government doesn’t run anything to benefit customers, it runs things to benefit itself.  In order to buy votes by appearing magnanimous” Elliot Wave International

“Who looks outside, dreams; Who looks inside, awakes” Carl Gustav Jung

“All truths are easy to understand once they are discovered; the point is to discover them” Galileo

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