Right Time

It isn’t as important to buy as cheap as possible as it is to buy at the right time.
— Jesse Livermore

Market

And there is another thing to remember, and that is that a market does not culminate in one grand blaze of glory. Neither does it end with a sudden reversal of form. A market can and does often cease to be a bull market long before prices generally begin to break. -----REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre

Future Game

The commodity futures game is a money game —not a game involving the supply-demand of the actual commodity as commonly depicted.
— R. Earl Hadady

Luck

When everybody starts looking really smart, and not realizing that a lot of it was luck, I get scared.
— Raphael Yavneh (Forbes)

Perception

As long as prices continue to move, that movement will create opportunities to buy low and sell high or sell high and buy low, and these opportunities are available for all traders. You create the game in your own mind based on your beliefs, intents, perceptions, and rules. It is your own unique perspective and no one else's and the secret is, you can and do choose how you perceive events. Even if you are not aware of exactly how to control and change your perception to make other choices available to yourself, you are still choosing, even if it is out of ignorance..----The Disciplined Trader,Mark Douglas

First Loss

If you are losing in the beginning, you’ll lose in the end. Do not put off the hour of reckoning. The first loss is the best loss—this is the rule of those of us who trade with our eyes open.----Dr. Alexander Elder

Conditions

When I am long of stocks it is because my reading of conditions has made me bullish. But you find many people, reputed to be intelligent, who are bullish because they have stocks. I do not allow my possessions—or my prepossessions either—to do any thinking for me. That is why I repeat that I never argue with the tape. To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pneumonia.----REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre

Loss Of Money

The loss of the money didn't bother me. Whenever I have lost money in the stock market I have always considered that I have learned something; that if I have lost money I have gained experience, so that the money really went for a tuition fee. A man has to have experience and he has to pay for it. -----REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre

Three Things

A good trader has to have three things: a chronic inability to accept things at face value, to feel continuously unsettled, and to have humility.
— Michael Steinhardt

Edge

Every professional knows his edge, but ask an amateur and he’ll draw a blank. A person who doesn’t know his edge does not have it and will lose money.----Dr. Alexander Elder

Refuses

If a battered stock refuses to sink any lower no matter how many negative articles appear in the papers, that stock is worth a closer look.
— James L. Fraser (Contrary Investor)

Institutions

Institutions tend to dump stock in a single transaction and buy, if possible, in smaller lots, gradually accumulating a position. Therefore, many more big blocks are traded on downticks than on upticks.
— Justin Mamis

Big Swing

I began to realize that the big money must necessarily be in the big swing. Whatever might seem to give a big swing its initial impulse, the fact is that its continuance is not the result of manipulation by pools or artifice by financiers, but depends upon basic conditions. And no matter who opposes it, the swing must inevitably run as far and as fast and as long as the impelling forces determine.----REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre

Death

Buy when you are scared to death; sell when you are tickled to death.— Market Maxim (The Cabot Market Letter, April 12, 2001)

Yourself

There is only one corner of the universe you can be certain of improving, and that’s yourself.
— Aldous Huxley (English author, Brave New World, 1894-1963)

Pain

Because of the pain of loss, people are willing to take greater risks to reduce that pain and to avert it than they are willing to do to maximize their profitability. They are less motivated by profitability and success than by aversion to loss, and therefore they are more likely to take highrisk bets when they are at risk of losing.----Trading to Win, Ari Kiev

Double bottoms

While markets often make double bottoms, three pushes to a high is the most common topping pattern.
— John Bollinger (Bollinger Capital Management, created Bollinger
Bands, Capital Growth Letter, Bollinger on Bollinger Bands)

Commitment

When you trade from commitment—and do what you said you would do—you generate an extraordinary amount of energy. You begin to see opportunities in the market that you couldn't see earlier. You do not need to struggle. All you need to do is to show up and participate in the context of the new trading target. Trading in terms of an expanded target means having the courage to look for what is missing in your trading strategy. This becomes the source of the breakthrough you can produce.----Trading to Win, Ari Kiev