Technical Analysis Quotes

[Sifugann]

I read pretty much everyday on various forms of technical analysis, and I am also a quote recorder for many of my readings.

I'll probably make this thread home for my daily quotes that I've jotted down in my own notes. Writing down these quotes have helped me tremendously, and I would like to share them.

"Experience has taught traders to be more passive because it is usually beneficial. Both trading and investing are about being objective and looking at the market from a neutral standpoint. A reliable indicator does not exist besides the price itself." - John Palatine

"The speculator deadly enemies are: ignorance, greed, fear, and hope. All the books in the word and all the rules of all the exchanges on earth cannot eliminate these from the human animal. Accidents which knock carefully conceived plans sky high also are beyond regulation by bodies of cold blooded economists or warm-hearted philanthropists. There remains another source of loss that is, deliberate misinformation as distinguished from straight tips. And because it is apt to come to a stock trader variously disguised and camouflaged, it is insidious and dangerous." - Jesse Livermore

 

[Gup16v]

Both are awesome and thank you.

 

[NVP]

my favourite quote is ....


"rubbish - That can never happen to me"

quoted each and everyday by losers

N

 

[Sifugann]

my favourite quote is ....


"rubbish - That can never happen to me"

quoted each and everyday by losers

N

As Robert Krausz states, "This work has convinced me that trading is 75% psychological and 25% methodology." :whistling

 

[Sifugann]

"Look at your own progress, not someone elses." So why buy signals??

 

[Sifugann]

"We don't predict the markets, we react to the markets"

 

[Sifugann]

If a trader does very well in one period, and only average in the next. He might feel like he failed. On the other hand, if the trader does very poorly in one period, but average in the next, he'll probably feel like hes doing dramatically better. In either case, the trader is very likely to attribute the change in results to his system or his feelings rather to a natural statistical tendency (you have more loses than wins). The failure to appreciate this concept will lead the trader to create an inaccurate mental picture of his trading ability. For example, if the trader switches from one system to the other when his doing particularly poorly. The odds are that he'll do better at that point in time even if the new system is only of equal merit, or possibly even if it is inferior. Yet the trader will attribute his improvement to his new system. In contrast, super traders understand the concept of regression to the mean and use it to their advantage instead of being misled by it."

 

[Alcaponeit]

I still go with "Garbage in Garbage out" The inevitable causality overrules all technicality !