Quote 1:

“Win or lose, everybody gets what they want out of the market.  Some people seem to like to lose, so they win by losing money.”

 Quote 2:

“Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”.  However, if you catch on early, before others believe, you might have valuable “surprise-a-mentals”.”

 Quote 3:

“If you can’t measure it, you probably can’t manage it… Things you measure tend to improve.”

Quote 4:

“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.”

 Quote 5:

“There are old traders and there are bold traders, but there are very few old, bold traders.”

 Quote 6:

“”I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.”

 Quote 7:

“Systems trading is ultimately discretionary.  The manager still has to decide how much risk to accept, which markets to play, and how aggressively to increase and decrease the trading base as a function of equity change.”

 Quote 8:

“Trying to trade during a losing streak is emotionally devastating. Trying to play “catch up” is lethal.”

 Quote 9:

“The elements of good trading are: 1, cutting losses. 2, cutting losses.  And 3, cutting losses.  If you can follow these three rules, you may have a chance.” (more…)