I love reading trading books and learning from some of the great investors and traders. My personal preference is to learn from the “Old Guys” like Livermore, Buffett, Lynch and Graham. These guys laid the foundation for modern investing. They didn’t trade on technicals and always offer great insight.
Here are 19 great quotes. Add your favorite quote via the Facebook Comments!
“The first rule is not to lose. The second rule is not to forget the first rule.”
“If past history was all there was to the game, the richest people would be librarians.”
“Risk comes from not knowing what you’re doing.”
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
“Buy on fear, sell on greed.”
“Amateurs want to be right. Professionals want to make money.”
“If you want to have a better performance than the crowd, you must do things differently from the crowd.”
“The four most dangerous words in investing are ‘This time it’s different’.”
“If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.”
“Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.”
“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.”
“In the business world, the rearview mirror is always clearer than the windshield.”
“Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.”
“The financial markets generally are unpredictable. So that one has to have different scenarios. The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.”
“Go for a business that any idiot can run – because sooner or later, any idiot probably is going to run it.”
“In this business if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.”
“Wall Street people learn nothing and forget everything.”
“Time is your friend; impulse is your enemy.”
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.”
Watch The 1st Video In This Free 4-Part Series On Options Trading
I've been told by tons of people that you've got to either have a lot of money or a really killer system to trade options and win. Some new indicator or signal that will transform your portfolio.
Honestly, there is no "magic secret" to trading options. It simply comes down to an understanding of risk management, option pricing and strategy selection.
Instead of learning these lessons the hard way (i.e. losing your shirt in the market), why not take my free 4-part video course as I cover each area in detail. Plus, I'll go over the exact checklist I use for selecting trades each month!