Extracted from Getting Started in Technical Analysis by Jack D Schwager
"The novice trader will ignore a failed signal, riding a position into a large loss while hoping for the best. The more experienced trader, having learned the importance of money management, will exit quickly once it is apparent that he had made a bad trade. The truly skilled trader will be able to do a 180-degree turn, reversing a position at a loss if market behavior points to such a course of action." - Jack D. Schwager
"Human nature will do things that are comfortable but the market will pay the trader for being uncomfortable." - William Eckhardt
"Market wizards do not do predictions. They just trade the market and react to the market." - Jack D. Schwager
"The trend is your friend except at the end when it bends." - Ed Seykota
"It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market." - Edwin Lefevre
"The market is like a flu virus - as soon as you think you have it pegged, it mutates into something else." - Wayne H Wager
"The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss and hope that his profit may become big profit." - Edwin Lefevre
"There is no such thing as being right or beating the market. If you make money, it is because you understood the same thing the market did. If you lose money, it is simply because you got it wrong. There is no other way of looking at it." - Musawer Mansoor Ijaz
"Every decade has its characteristic folly, but the basic cause is the same: people persist in believing that what has happened in the recent past will go on happening into the indefinite future, even while the ground is shifting under their feet." - George J Church
"If making money is a slow process, losing it is quickly done." - Ihara Saikaku
"Do not wish for quick results, nor look for small advantages. If you seek quick results, you willl not reach the ultimate goal. If you are led astray by small advantages, you will never accomplish great thing." - Confucius
"Don't invest in or buy products you don't fully understand. Don't try to out-smart the market. Investment is about adopting a disciplined aproach based on your strategy and risk appetite. It is not about listening to rumours or timing the market." - Anonymous
"We buy things we don't need, with money we don't have, just to impress people we don't know" - Anonymous
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