Cyclical

Two rules for investing/trading :

Rule number one : most things will prove to be cyclical

Rule number two : some of the greatest opportunities for gain and loss come when other people forget rule number one

------Howard Marks

True

Panics do not destroy capital—they merely reveal the extent to which it has previously been

destroyed by its betrayal in hopelessly unproductive works.-----Michael W. Covel

Basic

If you must play, decide upon three things at the start: the rules of the game,

the stakes, and quitting time------Michael W. Covel

Flow

Do not strive for things occurring to occur as you wish, but wish the things occurring as they occur,

and you will flow well.----Michael W. Covel

True Winner

If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor

Jones.

Probability

When you really believe that trading is simply a probability game, concepts like right and wrong or win or lose no longer have the same significance.---- Michael W. Covel

Knowing

Knowing others is wisdom ; Knowing self is enlightenment ; Mastering others requires force ; Mastering self needs strength ---- Michael W. Covel

Crisis

“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”
Rudiger Dornbusch