Larry Hite Famous Quotes
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Throughout my trading career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don't take a hard look at risk, it will take you.
Never risk more than 1% of total account equity on any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.
If you diversify, control your risk, and go with the trend, it just has to work.
We approach markets backwards. The first thing we ask is not what can we make, but how much can we lose. We play a defensive game.
Frankly, I don't see markets; I see risks, rewards, and money.
I have noticed that everyone who has ever tried to tell me that markets are efficient is poor.
We diversify in two ways. First, we probably trade more markets worldwide than any other money manager. Second, we don't just use a single best system. To provide balance, we use lots of different systems ranging from short to long term. Some of these systems may not be that good by themselves, but we really don't care; that is not what they are there for.
No matter what information you have, no matter what you are doing, you can be wrong.
It is incredible how rich you can get by not being perfect
I have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet.
