Trend

Jesse Livermore: “It may surprise many to know that in my method of trading, when I see by my records that an upward trend is in progress, I become a buyer as soon as a stock makes a new high on its movement, after having had a normal reaction. The same applies whenever I take the short side. Why? Because I am following the trend at the time. My records signal me to go ahead!”

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Reflected

 John Murphy: “The statement ‘market action discounts everything’ forms what is probably the cornerstone of technical analysis. [...] The technician believes that anything that can possibly affect the price–fundamentally, politically, psychologically, or otherwise–is actually reflected in the price of that market.”

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Complacency

I will not allow yesterday's success to lull me into today's complacency, for this is the greatest foundation of failure. -- Og Mandino

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Know

You got to know when to hold ‘emknow when to fold ‘emKnow when to walk away and know when to run.You never count your money when you’re sittin’ at the table.There’ll be time enough for countin’when the dealings done- Kenny Rogers, The Gamble

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Turning Points

Volatility is greatest at turning points, diminishing as a new trend becomes established.---George Soros

Getting Better

These are both very, very healthy. Studies (see Waitzkin, Art of Learning) have shown that learners who learn for the sake of getting better continue to learn and progress but that when a learner focuses on winning, they become fragile, eventually reaching a place where they stop improving because they are afraid of losing.

Strength

Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.----Arnold Schwarzenegger,

Never Argue

Remember, the market is designed to fool most of the people most of the time. Sometimes, the market will go contrary to what speculators have predicted. At these times, speculators must abandon their predictions and follow the action of the market. Never argue with the tape. Markets are never wrong, but opinions often are. I only try to react to what the market is telling me by its behavior.------Jesse Livermore