Bill Lipschutz Famous Quotes
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I don't think you can consistently be a winning trader if you're banking on being right more than 50 percent of the time. You have to figure out how to make money being right only 20 to 30 percent of the time.
Always understand the risk/reward of the trade as it now stands, not as it existed when you put the position on. Some people say, "I was only playing with the market's money." That's the most ridiculous thing I ever heard.
It's very difficult to be different from the rest of the crowd the majority of the time, which by definition is what you're doing if you're a successful trader.
If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money.
