These quotes are taken from Jack Schwager's bestselling book, Market Wizards. This book should be on every serious investor and traders bookshelf.
It is said that if you want to be good at something, you must learn from the best. Here are some of the wisdom, inspirational quotes and sayings by the very best in investing and trading.
Here are the quotes...
Quotes from the Legends
Quotes by Jim Rogers"One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do...They just can't sit there and wait for something new to develop". Jim Rogers."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, "I just lost my money, now I have to do something to make it back". No you don't. You should sit there until you find something". Jim Rogers."My early losses taught me a lot. Since then-I don't like to say this kind of thing-I have made very few mistakes. I learned quickly not to do anything unless you know what you are doing. I learned that it is better to do nothing and wait until you get a concept so right, and a price so right, that even if you are wrong, it is not going to hurt you". Jim Rogers."Over the years, I have spent a great deal of time pouring a lot of stuff into my head. I have developed a great deal of perspective on many markets...I know about these markets because I have pored over many commodity, bond and stock books so many times, for so many years". Jim Rogers....I ask myself, "What caused that? Why did it happen?" Then I try and figure it out. From that, you learn an enormous amount. Jim Rogers. "Look for hysteria to see if you shouldn't go the opposite way, but don't go the opposite way until you have fully examined the situation." Jim Rogers.
Quotes by other market wizardI have found that the greatest traders are the ones who are most afraid of the markets. My fear of the market has forced me to hone my timing with great precision...I also don't lose much on my trades, because I wait for the right moment. Most people will not wait fot the environment to tip itself off...Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey...Only then, when there is no chance it can lose its prey, does it attack. That, to me, is the epitome of professional trading. Mark Weinstein.Limit losses quickly. Mark Weinstein.Most traders who fail have large egos and can't admit that they are wrong. Even those who are willing to admit they are wrong early in their career can't admit it later on. Also, some traders fail because they are too worried about losing...I'm not afraid to lose. When you start being afraid to lose, you're finished. Brian Gelber.Now I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out; if they are going for me I keep them...I am always thinking about losing money as opposed to making money...I have a mental stop. If it hits that number, I am out no matter what. Paul Tudor Jones.
Here are just some of the quotes from the Market Wizard book by Jack Schwager. I urge you to read these quotes again and again. Even if you have been trading or investing for a long time, read it again and again.
If possible, try to get a copy of this book. This is one of those books you should absolutely read. You will learn a lot from Schwager's interview of the various market wizard.
Remember? If you want to be good at something, learn from the best. You will not regret it. Click here (coming soon) for a review of the book.
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