選擇幫精選: 交易、投資、生活格言

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交易不順嗎? 那有什麼關係?

有空細讀我收選的這些交易格言，交易順的時候看它們，不順的時候的隔，等心情平復之後，也看一下它們，未來，你交易的不順的幅度以及你面對不順時的心境，都會更加理想。

"It's never your thinking that makes you money, it's your sitting"
Jesse Livermore

"Good thing about being a trader is that you can always do a much better job"

Marty Schwartz

"You can't quantify reward but you can quantify RISK"

Larry Hite

I learned long ago,never to wrestle with a pig. You get dirty, and besides, the pig likes it.

George Bernard Shaw

"Focus on whether what you are doing is right, not the random nature of any single trade."
Richard Dennis

"Losing position is aggravating, losing your nerve is devastating"

“We all get what we want out of the markets.”

Ed Seykota

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"There isn't one indicator that is the holly grail. Holly grail is the risk management"
- John Person

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I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.
Jim Rogers

"Market prediction is the last refuge of the incompetent"
Marty Whitman

The more you mentally prepare and accept loss the less psychological capital it takes.

Fighting yourself is like robbing your own bank.

A trading plan is just words until you act on it.

One trade is not connected to another, unless you let it.

Not accepting failure is refusing to learn from it.

Losing is lonely, but it can be the easiest way to get to know yourself. It builds a base in which we never have to go below again.


"Our greatest glory is not in never falling but in rising every time we fall."
Confucius  (我們孔老夫子有說過這句話嗎?)

"Every great cause is born from repeated failures and from imperfect achievements."
Maria Montessori        

"Great success is built on failure, frustration, even catastrophy."
Sumner Redstone

Develop a plan before you trade or do it later with less cash and more frustration.

Your edge is like your refrigerator. Don't teach your dog how to open it!

“Investing in stocks is an art, not a science, and people who’ve been trained to rigidly quantify everything have a big disadvantage.”
Peter Lynch

Successful, or really successful, traders...in my simple, humble opinion...are basically weirdo psychos. who all practice KISS: keep it simple stupid ....in their trading strategy and psychology.

It's all about finding what you're good at in the marketplace, and churning it day in...day out...like normal clockwork.

It's relatively easy to make money in the market; the challenge is keeping it for most people...at least in the long run.

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"I am only rich because I admit my mistakes faster than other people"
  George Soros


"The first rule of trading is, don't get caught in a situation in which you can lose great deal of money for reasons you don't understand."
Bruce Kovner

"The greatest secret of success in life is for a man to be ready when his opportunity comes."
Benjamin Disraeli

“Even if you are on the right track, you'll get run over if you just sit there.”
Will Rogers

“When you find yourself in a hole, quit digging.”
W Rogers

"Everyone does well in a bull market".
CNBC commentator

"everyone is a genius in a bull market"
在牛市，每個人都是天才型選手。

"Amateur looks to make money, a professional concerns himself with doing the right thing, knowing that profit takes care of itself if other things are attended to."
Jesse Livermore

"When in doubt, get out!"
Michael Marcus

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"Market is fluid and manipulated but is tradable".
Old Wall St saying

"The difference between successful and unsuccessful trader is not IQ, it's EQ IE the ones who did not let ego get in their way."
- Victor Sperandeo (好久以前，我有買他的書，可惜慧根不夠，看不太下去)

"An investor looks for safety, for permanence of the interest return on the capital he invests. The speculator looks for quick profit."

-Jesse Livermore

“It’s not always the most popular person who gets the job done.”
Gordon Gekko

Don't confuse being right with making money.

Never try to catch a falling knife.

There are two rules of investing, The first rule is don’t lose. The second rule is don’t forget rule number one.
Benjamin Graham

In Stock Market, You can be right for the wrong reasons or wrong for the right reasons.
John Allen Paulos

“Only buy something that you'd be perfectly happy to hold if the market shut down for ten years.”
Warren Buffett

“Never invest in any idea you can't illustrate with a crayon. “
Peter Lynch

An investor without investment objectives is like a traveler without a destination.
Ralph Seger

“Most people are beaten up by the market instead of beating the market.”
MARK T. HEBNER

“Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.”
Warren Buffett

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“Success is going from failure to failure without a loss of enthusiasm”
Winston Churchill 邱吉爾

Successful investing is anticipating the anticipation of others.
這句話蠻有名的。

A frustrated trader is a trader in trouble.
交易失敗，人生也不會成功。

“Have patience. All things are difficult before they become easy.”
Keith Leesus

Success trading like poker is taking lots of singles while keeping your eye open for the occasional homerun.

The best party to join is one where you have proof that everyone is happy

If you don't know who the sucker in the room is, it's you.

If you think you know, you're probably wrong.
If you do know, you're probably too late.

Wall street is a scam!
華爾街是一場騙局

"the first cut is the cheapest"
第一個停損和呼吸一樣自然清爽

"Plan a trade, trade a plan"
"Courage is taking a loss when you should"
"Sell when you can, not when you have to"
"Trade what you see, not what you think"

"I can calculate the motion of heavenly bodies, but not the madness of people."
Sir Isaac Newton

"Nulla tenci invitae est via" ( "for tenacious, no road is impassable.")
Ancient Roman proverb

You never bet enough money on the horse that won.
You can make a small fortune trading options. All you need is a large fortune to start with.

The market is what the market is. The market does not know if you are long or short and the market does not give a flying donkey's dick if you are long or short. Don't make emotionally-driven mistakes over something for which you have absolutely no control.

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When you dance with Ms. Market she leads. Don't ever assume she hears the same music you hear except occasionally . It will normally be a difficult dance.

It is always better to buy a good stock at a bad price than buying a bad stock at a good price.

The crowd is right during the trends but wrong at both ends.

"Bulls make money. Bears make money. Pigs get slaughtered. "
"Nobody ever lost money taking a profit."
Bernard Baruch

But George Soros seems to disagree:
"It takes courage to be a pig."
索羅斯說，在市場上成為一隻豬，也需要很大的勇氣。

"Wealth is a slave of a wise men, master of the fool."
Seneca

"Gamblers create risk, traders assume risk"

"The most important rule of trading is to play great defense."
Paul Tudor Jones

Don't throw your keyboard after a bad trade, it won't work anymore.
George Soros

" A man is not wealthy until he can buy an army and still have some left over."
Marcus Licinius Crassus ( richest man in Rome)

After a big win don't go to the strip club, you'll lose your wife and your money.
Stanley Druckenmiller.

"There are old traders and there are bold traders but there are very few old, bold traders"
“I sometimes get the most confident of my ability just before a major losing streak”
-Ed Seykota

"Everything that's important in investing is counter intuitive, and everything that's obvious is wrong" -
Howard Marks

"It's not supposed to be easy. Anyone who finds it easy is stupid" –
Charlie Munger

"When a trade is really obvious, its also really wrong to make."
Dan Fitzpatrick

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"I don't see markets, I see risk, reward."
Larry Hite

"When a man with experience meets a man with money, man with experience will end up with money and man with money will end up with experience."

"Those who keep learning will keep rising in life."
Charlie Munger

“Don’t think, there’s nothing to think about. When the pattern presents itself, there’s nothing to think about.”
Mark Douglas

“In a calm sea, every man is a pilot.”
在波動率很低的市場，所有的賣方都很神。

"Don't focus on making money, focus on protecting what you have."
Paul Tudor Jones

"Your first loss is your best loss."
James B. Rogers Jr.

The successful people have the smallest losers, not the largest winners.

“Waiting for confirmation only creates poor stops.”
Vader

"You have to follow your own dreams or you will forever live under somebody else's rules."
Rosemarie Certo

"The best traders are the ones who are most afraid of the markets."
Mark Weinstein

"Successful trading is a matter of trying to avoid losses, but not being afraid of them."
Jack D. Schwager

"The markets determine how much you can make; you determine how much you can lose..."
Linda Bradford Raschke

"Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass."
Paul Tudor Jones

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Insanity is doing the same thing over and over while expecting different results. “
Albert Einstein

"if you are really committed, then not only are you certain that you are doing the right thing, but somehow events just seem to occur to help you."
-Van K. Tharp

"Those who can do, those who can't teach."
George Bernard Shaw

"There's easy money, and there's hard money. The sooner you learn the difference, the better off you'll be."

“In poker, if you don't know who the mark is, then you are the mark. In a similar fashion, in trading, if you don't know who is trapped, you will soon discover that it is none other but you!”
Al Brooks

"When everybody thinks alike, Everyone is likely wrong."
Humphrey B. Neill

"The more sophisticated the game, the more sophisticated the opponent."
from the movie REVOLVER

"Any fool can buy. It is the wise man who knows how to sell."
Albert W. Thomas


"Good traders liquidate when they are wrong, great traders reverse when they are wrong"
Jack Schwager

Every time I lost badly, it was because I violated at least one of my rules
David J. Merkel

"If incompetence is the disease of a novice, overconfidence is the disease of an expert."
Malcolm Gladwell

"Better lose clients than lose money"
David Hay - Evergreen Capital

"Equities go up the stairs, come down in an elevator"
Louis Gave ( Gavekal Capital & Research)

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Do not try and bend the trend, that's impossible. Instead, only try to realize the truth...there is no trend. Then you will see it is not the trend that bends, it is only yourself."

"The four most dangerous words in investing are: 'this time it's different.'"
Sir John Templeton

"He who sells what isn't his, must pay it back or go to prison"
Old Wall St. saying

"Successful investor is about having others agree with you later"
Joe Rodela

"Experience is what you get when you did not get what you wanted"
Howard Marks

"History does not repeat itself but it does rhyme"
Mark Twain

"Whatever method we use to pick stocks...your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed. It isn't the head but the stomach that determines the fate of the stock-picker."
Peter Lynch

"The most important lesson in investing is humility"
Sir John Tempelton

“The only certainties are time decay and transaction costs.”
from an options trader

"If I had 8 hours to cut down the tree I'd spend 6 sharpening my axe."
President Abraham Lincoln

"There are two kinds of people who lose money: those who know nothing and those who know everything"
Henry Kaufmann ( to Forbes 10/19/98, LTCM fits the second case)

"Never will a man penetrate deeper into error than when he is continuing on a road that has lead him to great success"
Friedrich von Hayek ( Counterrevolution of Science 1899-1992)

There is no democracy in trading. The opinion of the average Joe is not usually as good as a proved expert's.

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You can't think your way into right action, but you can act your way into right thinking
Bill Wilson, Alcoholics Anonymous

"Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected"
George Soros

'Men who can both be right and sit tight are uncommon'
Jesse Livermore

"A crisis is a terrible thing to waste"
Rahm Emanuel
情況大壞，時機大好

"Get inside information from the president and you'll lose half your money. If you get it from the chairman of the board, you'll lose all your money."
Jim Rogers

"A bargain that stays a bargain is no bargain"
The Traders' Credo


"I would rather be positioned as a petrified bull rather than a peniless bear"
John L Person

"Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist".
Kenneth Ewart Boulding

"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people full of doubts"
Bertrand Russell

"A boom is just capitalism's way of setting up the next bust."
James Grant

"And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control."
Paul Tudor Jones

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"Most important thing in making money is not letting your losses get out of hand."
Marty Schwartz

Don't let the Perfect be the enemy of the Good Enough.

“Never let a trade turn into an investment.”
James Cramer

In regards to trading: "It's not about perfection. It's about effectively managing your imperfection."

I've always said, trading is so damn difficult it makes everything else in life seems easier.

"If you torture data enough, it will confess"
Dr. Pippa Malmgren

"In a bear market you don't want an analyst, in a bull market you don't need one."
-Arnold Van Den Berg ( Century Management)



"There is right time and the wrong time to buy a stock, but understanding the difference requires some study. There is no such thing as being an OVERNIGHT success in the stock market, and success has nothing to do with listening to tips from other people or being LUCKY. You have to study and prepare yourself so that you can become successful on your own with your investing. So make yourself knowledgeable. It isn't easy at first, but it can be very rewarding. Anyone can learn to do it. You can do it. Believe in your ability to learn. Unlearn past assumptions that didn't work."

William J. O'Neil

It's difficult enough to develop a method that works. It then takes experience to believe what your method is telling you. But the toughest part is turning analysis into money.
Robert Prechter

Good judgment is usually the result of experience and experience frequently is the result of bad judgment.
Robert Lovell
好的決斷來自於好的經驗，好的經驗來自於壞的決斷。

(按: 相似的話「good judgment from experience, which comes form bad judement」benchmark創投基金創辦人也講過  )

“The goal of a successful trader is to make successful trades. Money is secondary”
Alexander Elder

“markets can remain irrational longer than you can remain solvent.”