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Trading Wisdoms

That enormous profits should have turned into still more colossal losses, that new theories should have been developed and later discredited, that unlimited optimism should have been succeeded by the deepest despair, are all in strict accord with age-old tradition.

Benjamin Graham

A trading philosophy is something that cannot just be transferred from one person to another; it’s something that you have to acquire yourself through time and effort. 

Richard Driehaus

The essential element is that the markets are ultimately based on human psychology, and by charting the markets you’re merely converting human psychology into graphic representations. I believe that the human mind is more powerful than any computer in analyzing the implications of these price graphs. 

Al Weiss

Opportunities change, strategies change, but people and psychology do not change. If trend-following systems don’t work well, something else will. There’s always money being lost, so someone out there has to win. 

Gil Blake, New Market Wizards

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