Monday, November 7, 2011 EST

"The consistency you seek is in your mind, not in the markets. It’s attitudes and beliefs about being wrong, losing money, and the tendency to become reckless, when you’re feeling good, that cause most losses—not technique or market knowledge." - Mark Douglas
 
"I found that, for myself, proximity to Wall Street was fatal. I was too easily swayed by the minor fluctuations of the market, the talk about impending mergers, acquisitions, splits; I could never stick to any sort of system while under such influences. Rather, it was during my absences from New York, and especially during the two years of a tour that took me around the world, when I found myself operating most profitably."
- Nicolas Darvas
 
"A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul. "
 
"It isn't as important to buy as cheap as possible as it is to buy at the right time. "
 
"There is only one side of the market and it is not the bull side or the bear side, but the right side. "

- Jesse Livermore

 
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