Bill Lipschutz famous quotes
Last updated: Sep 5, 2024
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If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money.
-- Bill Lipschutz -
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.
-- Bill Lipschutz -
When you're in a losing streak, your ability to properly assimilate and analyze information starts to become distorted because of the impairment of the confidence factor, which is a by-product of a losing streak. You have to work very hard to restore that confidence, and cutting back trading size helps achieve that goal.
-- Bill Lipschutz -
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.
-- Bill Lipschutz -
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.
-- Bill Lipschutz
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I would rather play with forked lightning, or take in my hand living wires with their fiery current, than to speak a reckless word against any servant of Christ, or idly repeat the slanderous darts which thousands of Christians are hurling on others, to the hurt of their own souls and bodies.
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The mighty edifice of Government science dominated the scene in the middle of the 20th century as a Gothic cathedral dominated a 13th century landscape. The work of many hands over many years, it universally inspired admiration, wonder and fear.
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If you don't work very hard, it is extremely unlikely that you will be a good trader.
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Systems don't need to be changed. The trick is for a trader to develop a system with which he is compatible.
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Good traders liquidate when they are wrong, great traders reverse when they are wrong
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The more money the louder it talks.
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I got more money than I can spend now.
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The goal isn't more money. The goal is living life on your terms.
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Americans spend more money on music than on sex or prescription drugs
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To carry on war, three things are necessary: money, money, and yet more money.
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