The most memorable impression

[jamesg46]

My favourite quotes for participating in any market are:-

Be greedy when people are fearful and fearful when people are greedy.

Let the market be your slave and not your master.

Both encapsulate your objective and the psychology behind it very neatly.

Its interesting that I've heard these quotes but never took the time to fully understand them.. I've taken them at face value. I think this thread is important to me because of perception.. I'm a lazy thinker, thanks for reply and I will take the time to go further than face value

[jamesg46]

WB.PNG

So true & to fully understand this I need to learn how to incorporate it my actions

[jamesg46]

Look after your broom!!!

Was that a line from Only fools & horses? Ironic.

Classic

https://www.youtube.com/watch?v=LAh8HryVaeY

[JTEDL]

'Assumption is the mother of all f**k ups'

and similar

'To ASSUME makes and ASS out of yoU and ME'

[jamesg46]

'Assumption is the mother of all f**k ups'

and similar

'To ASSUME makes and ASS out of yoU and ME'

I don't know exactly where I've heard it but, ive heard, people would do better with rules.. I'm sure it was 21.. regardless, this is going to be one of my rules.. along with "a stitch in time, saves nine" I didn't understand that one at first but now I do, & honestly think its fundamental!

[eatyourgreens]

WB.PNG

but it would be fun trying to!

[ruthlessimon]

Be greedy when people are fearful and fearful when people are greedy.

Its interesting that I've heard these quotes but never took the time to fully understand them.. I've taken them at face value. I think this thread is important to me because of perception.. I'm a lazy thinker, thanks for reply and I will take the time to go further than face value

Remember it applies in two contexts

1. Over reaction
2. Under reaction

The perfect trader is attacking both biases

Also part 2 isnt really talked about; but it's just as important. Currently, my entire trading is based around under reactions. People are being slow (fearful) to react to new information

[jamesg46]

Be greedy when people are fearful and fearful when people are greedy.

Its interesting that I've heard these quotes but never took the time to fully understand them.. I've taken them at face value. I think this thread is important to me because of perception.. I'm a lazy thinker, thanks for reply and I will take the time to go further than face value

Remember it applies in two contexts

1. Over reaction
2. Under reaction

The perfect trader is attacking both biases

Also part 2 isnt really talked about; but it's just as important. Currently, my entire trading is based around under reactions. People are being slow (fearful) to react to new information

Funny, reading this just after reading Peter's thought for the week. Strange how people are scared or slow to act. Defo going to keep this in mind (to monitor my bahaviour)

[MemphisFlash]

"For every market there is a strategy,
and for every strategy there is a market."

[Emmson]

" It's more the persistance of WOM that you need to focus on. "

viewtopic.php?f=17&t=4645

[jamesg46]

"For every market there is a strategy,
and for every strategy there is a market."

This is by far my favourite!!! I'm not sure where the original quote comes from but Peter mentions it with purpose... it's the foundation to a building. Brilliant quote imo.

[Derek27]

The most useful quote anyone could give to me but it still would fall on deaf ears, is, a stitch in time saves nine.

This is very interesting because I have no idea what it means and this is defo something i was after (there is some other good quotes too) that people have posted... this one though is gonna take me some time to figure out... thank you!

You must be a lot younger than me ‒ it's a very old quote that was used a lot when I was young.

[Euler]

"For every market there is a strategy,
and for every strategy there is a market."

This is by far my favourite!!! I'm not sure where the original quote comes from but Peter mentions it with purpose... it's the foundation to a building. Brilliant quote imo.

I didn't mention that as a quote as it came from me. I don't know in my dusty memory banks if I borrowed it from somebody in part or whole, but I used it in my very first presentation on sporting markets back in 2004. It just made put sense to me and it sort of stuck and has been trotted out regularly since then.

Your role as a trader isn't necessarily to predict the future, just to recognise how you can exploit what could happen. Then look for clues it's about to happen and position yourself ahead of it.

[Derek27]

"For every market there is a strategy,
and for every strategy there is a market."

That's 100% true, provided not getting involved in a market counts as a strategy, or extremely low liquid events don't count as markets.

[Emmson]

"For every market there is a strategy,
and for every strategy there is a market."

That is too vague, doesn't do anything for me whatsoever, Euler has posted many pears of wisdom on here where he is specific. Like the bottom of page 1 here

viewtopic.php?f=2&t=14491