Re: Quotes , Thoughts & Sayings That Change Your View on Trading

#123
The critical question in war is knowing when to stop, when to make your exit and come to terms. Stop too soon and you lose whatever you might have gained by advancing; you allow too little time for the conflict to show you where it is heading. Stop too late and you sacrifice your gains by exhausting yourself.

The 33 Strategies of War by Robert Greene, 2006. (Strategy No.22 : know how to end things, The exit strategy)

Re: Quotes , Thoughts & Sayings That Change Your View on Trading

#125
The training of a stock trader is like a medical education. The physician has to spend long years learning anatomy, physiology, materia medica and collateral subjects by the dozen. He learns the theory and then proceeds to devote his life to the practice. He observes and classifies all sorts of pathological phenomena. He learns to diagnose. If his diagnosis is correct—and that depends upon the accuracy of his observation— he ought to do pretty well in his prognosis, always keeping in mind, of course, that human fallibility and the utterly unforeseen will keep him from scoring 100 per cent of bull's-eyes. And then, as he gains in experience, he learns not only to do the right thing but to do it instantly, so that many people will think he does it instinctively. It really isn't automatism. It is that he has diagnosed the case according to his observations of such cases during a period of many years; and, naturally, after he has diagnosed it, he can only treat it in the way that experience has taught him is the proper treatment. You can transmit knowledge—that is, your particular collection of cardindexed facts—but not your experience
.
Reminiscences of a Stock Operator by Edwin Lefevre 1923


Re: Quotes , Thoughts & Sayings That Change Your View on Trading

#126
navid110 wrote:
Tue Jun 09, 2020 9:22 pm
The training of a stock trader is like a medical education. The physician has to spend long years learning anatomy, physiology, materia medica and collateral subjects by the dozen. He learns the theory and then proceeds to devote his life to the practice. He observes and classifies all sorts of pathological phenomena. He learns to diagnose. If his diagnosis is correct—and that depends upon the accuracy of his observation— he ought to do pretty well in his prognosis, always keeping in mind, of course, that human fallibility and the utterly unforeseen will keep him from scoring 100 per cent of bull's-eyes. And then, as he gains in experience, he learns not only to do the right thing but to do it instantly, so that many people will think he does it instinctively. It really isn't automatism. It is that he has diagnosed the case according to his observations of such cases during a period of many years; and, naturally, after he has diagnosed it, he can only treat it in the way that experience has taught him is the proper treatment. You can transmit knowledge—that is, your particular collection of cardindexed facts—but not your experience
.
Reminiscences of a Stock Operator by Edwin Lefevre 1923
Such wise lines. Totally correct.


  1. Similar Topics

    1. Lazy People Quotes and Lazy People Sayings

      29 Replies 2810 Views

      by ChuChu Rocket, Sat Sep 07, 2019 10:05 pm in Trader's Lounge

      29 Replies
      2810 Views
    2. TRADING VIEW INDICATOR TO MT4

      0 Replies 113 Views

      by GREGG, Thu Sep 10, 2020 7:43 pm in Coding Help

      0 Replies
      113 Views

Return to “Forex Education”