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Trading Pearls of Wisdom

These classic trading widoms have stood the test of time. The list was compiled and used as a collection of rules from classic trading literature throughout the twentieth century. Add these pearls to your trading and investing toolbox.


  • You are what you think

  • Dream big, think tall, set exciting goals

  • Have a trading plan, know it well, follow it

  • Plan your trade, trade your plan

  • The most difficult task in speculation is not prediction but self-control

  • For losing trades, when the ship starts to sink, don't pray - jump!

  • Expect and accept losses, the next opportunity awaits

  • Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker

  • You are the most important factor in the equation for success

  • Be a disciplined trader, always follow your system rules

  • Continually strive for patience, perseverance, determination, and rational action

  • Use every loss to improve your knowledge of market action

  • Keep detailed records of all trading results

  • Have self-belief, a positive attitude and trust your judgement

  • Continuously set higher trading goals

  • Buy on bad news, sell on good news

  • Buy high, sell higher

  • Schedule time to study the market

  • Make your own trading decisions, don't follow the herd

  • Never enter a trade without a stop loss

  • Never move a stop loss once placed, unless in the direction of profit

  • Never get into a trade because you are anxious from waiting






  • Uncontrolled losses can wipe out a lifetime of profitable trading

  • Never allow a winning trade to turn into a loser

  • Be aware of your responses to winning and losing trades

  • It takes knowledge and discipline to avoid mistakes

  • In trading, as in fencing, there are the quick and the dead

  • Talk is silver, silence is gold. Traders with the golden touch do not talk about their success

  • Do not let ego and greed inhibit clear thinking and hard work

  • We cannot do anything about yesterday. When one door closes, another door opens. The greatest opportunities are through the open door

  • The market is always right, it reflects all forces acting upon it

  • It is much easier to enter a trade than to exit

  • Beware of large positions that can control emotions

  • Do not be overly aggressive with the market. Grow profits steadily over time

  • Never add to a losing position

  • Beware of trading tops and bottoms

  • Anticipate the next big movement with facts, not predictions

  • There is always another trading day

  • Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss

  • Anticipate the market's reaction to news and events

  • Successful traders make decisions on what is happening, not what will happen

  • A profit taken too soon is still a profit

  • If you do not know who you are, the market is an expensive place to find out

  • Continuous improvement

  • The deepest secret for the trader is to subordinate his or her will to the will of the market





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