The Best 10 things George Soros Ever Said About Trading

On September 16, 1992 – later dubbed “Black Wednesday” — the day the  British government abandoned the European Exchange Rate Mechanism (ERM), and the pound was devalued by 20% George Soros made over $1.2 billion  on his short sterling trade  and was dubbed  “The Man Who Broke the Bank of England.”  His Quantum Hedge Fund has returned about 20 percent a year, on average, since 1969. These are amazing results, and some of the best ever achieved. Many of the years he was personally running it he had 30% returns and two years returned an amazing 100%.

Risk Management

“I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.”

“My approach works not by making valid predictions but by allowing me to correct false ones.”

Trader Psychology

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”

“The markets are always on the side of exuberance or fear. It’s fear and greed. Right now greed has the better of it, which is rather nice (for investors) as long as it doesn’t get out of hand,” (more…)

Trading Tactics

Gerald Loeb

Gerald Loeb was a highly successful trader who wrote the classics “The Battle For Investment Survival” and “The Battle For Stock Market Profits.” Although they’ve been around for as long as I’ve been alive, you may find them helpful in today’s market.

Once in a while I take time to review old handwritten notes I’ve taken from the books I’ve read in the past including from Loeb. These notes often serve as inspiration to my own trading. Even though I’ve read them many times over the years, they always offer a good insight.

Loeb’s Trading Tactics:

  • The market is a battlefield. Make sure you are on the winning side
  • You must trade with the actions of the market and not simply by how you might think the market should trade
  • Knowledge through experience is one trait that separates successful stock market speculators from everyone else
  • To do well in short-term trading, it takes full-time attention and dedication
  • Exploit all new trends quickly and aggressively
  • The best traders are usually psychologists. The worst are usually accountants (more…)
Go to top