Bill Lipschutz quotes
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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 -
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“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 LipschutzSource : "The New Market Wizards". Book by Jack D. Schwager, 1992.
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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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“Good traders liquidate when they are wrong, great traders reverse when they are wrong”
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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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