Fear: fearful of profit and one acts too soon.
Hope: hope for a change in the forces against one.
Lack of confidence in ones own judgment.
Never cease to do your own thinking.
A man must not swear eternal allegiance to either the bear or bull side.
The individual fails to stick to facts!
People believe what it pleases them to believe.
Archives of “allegiance” tag
rssTrading Lessons
- Don’t sacrifice your position for fluctuations.
- Don’t expect the market to end in a blaze of glory. Look out for warnings.
- Don’t expect the tape to be a lecturer. It’s enough to see that something is wrong.
- Never try to sell at the top. It isn’t wise. Sell after a reaction if there is no rally.
- Don’t imagine that a market that has once sold at 150 must be cheap at 130.
- Don’t buck the market trend.
- Don’t look for the breaks. Look out for warnings.
- Don’t try to make an average from a losing game.
- Never keep goods that show a loss, and sell those that show a profit. Get out with the least loss, and sit tight for greater profits.
- Fear: fearful of profit and one acts too soon.
- Hope: hope for a change in the forces against one.
- Lack of confidence in ones own judgment.
- Never cease to do your own thinking.
- A man must not swear eternal allegiance to either the bear or bull side.
- The individual fails to stick to facts!
- People believe what it pleases them to believe.
14 Points for Traders
1. Have a profit? Forget it. Have a loss? Forget it even quicker.
2. It was never my thinking that made the big money for me. It was my sitting, my sitting tight.
3. There is only one side to the stock market and it is not the bull side or the bear side, but the right side.
4. If you don’t know what’s going on, don’t do anything.
5. Markets are never wrong, opinions often are.
6. Don’t be too curious about the reasons behind moves.
7. The smarter you are, the longer it takes.
8. When time is up, markets will reverse.
9. Don’t expect the tape to be a lecturer. It’s enough to see that something is wrong.
10. Don’t imagine that a market that once sold at 150 is cheap at 130.
11. A man does not swear eternal allegiance to either the bear or bull side.
12. People believe what it pleases them to believe.
13. Trend followers plan when they will get out before they ever get in.
14. Know every day what your portfolio is worth. Calculate what your risks are on any given day for all positions.
Amos Hostetter-Trading Wisdom
Amos Hostetter: Trading Dont’s
- Don’t sacrifice your position for fluctuations.
- Don’t expect the market to end in a blaze of glory. Look out for warnings.
- Don’t expect the tape to be a lecturer. It’s enough to see that something is wrong.
- Never try to sell at the top. It isn’t wise. Sell after a reaction if there is no rally.
- Don’t imagine that a market that has once sold at 150 must be cheap at 130.
- Don’t buck the market trend.
- Don’t look for the breaks. Look out for warnings.
- Don’t try to make an average from a losing game.
- Never keep goods that show a loss, and sell those that show a profit. Get out with the least loss, and sit tight for greater profits.
Amos Hostetter: Dangers in Trading caused by Human Nature
- Fear: fearful of profit and one acts too soon.
- Hope: hope for a change in the forces against one.
- Lack of confidence in ones own judgment.
- Never cease to do your own thinking.
- A man must not swear eternal allegiance to either the bear or bull side.
- The individual fails to stick to facts!
- People believe what it pleases them to believe.
Amos Hostetter: One Great Trend Trader
Amos Hostetter: Trading Dont’s
- Don’t sacrifice your position for fluctuations.
- Don’t expect the market to end in a blaze of glory. Look out for warnings.
- Don’t expect the tape to be a lecturer. It’s enough to see that something is wrong.
- Never try to sell at the top. It isn’t wise. Sell after a reaction if there is no rally.
- Don’t imagine that a market that has once sold at 150 must be cheap at 130.
- Don’t buck the market trend.
- Don’t look for the breaks. Look out for warnings.
- Don’t try to make an average from a losing game.
- Never keep goods that show a loss, and sell those that show a profit. Get out with the least loss, and sit tight for greater profits.
Amos Hostetter: Dangers in Trading caused by Human Nature
- Fear: fearful of profit and one acts too soon.
- Hope: hope for a change in the forces against one.
- Lack of confidence in ones own judgment.
- Never cease to do your own thinking.
- A man must not swear eternal allegiance to either the bear or bull side.
- The individual fails to stick to facts!
- People believe what it pleases them to believe.
Think about how simple Hostetter’s wisdom appears on the surface. But how many adhere to such principles?