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Even if you are an expert who spends 24 hours a day keeping an eye on all the fundamental developments that can influence the market, the reliability of your forecasts will still be relative. Carl William Brown A fool sees not the same tree that a wise man sees. William Blake Experienced traders control risk, inexperienced traders chase gains. Alan Farley The answer to successful trading cannot be found in any coach, book, or system. … Continue reading

Prediction and Trading

Actions and results in trading history

Failed Prediction from History. Economist and Yale professor Irving Fisher spent the early 20th century as one of the undisputed wizards of Wall Street. Today, however, he is best known for making what is perhaps the most disastrously timed stock market prediction in history. The call came in early October 1929, in the days after stock prices leapt to dizzying new heights. Some claimed the jump was a sign that a massive crash was imminent, … Continue reading

Trading versus Gambling

Man is a gaming animal. He must always be trying to get the better in something or other. Charles Lamb The market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch. The problem when you’re a money manager is that your fans keep yelling, “Swing, you bum! Warren Buffet To anticipate the market is to gamble. To be patient and react only when the market gives … Continue reading

Twenty great trading advices

Risk is the uncertain possibility of loss. If you could quantify risk exactly, it would no longer be risk. Ed Seykota I can only rise by knowledge, If I fall it must be by my own blunders. Jesse Livermore As in any other job, art or science, observation is the only foundamental and pragmatic activity to use to guide your actions! Carl William Brown Risk no more that you can afford to lose, and also … Continue reading