Continuous learning and adaptability are keys to longterm success in trading from "summary" of Reminiscences of a Stock Operator by Edwin Lefevre
One thing I learned early is that there is no new thing in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I never lost my money by keeping it in my pocket. I always knew that the best way to make money is to keep the money you already have. I didn't get to where I am by sticking to old ways of doing things. I always had to be willing to adapt and learn from my mistakes. The market is constantly changing, and if you don't change with it, you'll get left behind. Success in trading isn't about being right all the time, it's about being able to admit when you're wrong and learn from it. The key to long-term success in trading is conti...
Similar Posts
Create an emergency fund
An emergency fund is like a financial safety net that you can rely on when unexpected expenses or emergencies arise. It provide...
Emotions can cloud judgment when making trading decisions
It's crucial to acknowledge that emotions play a significant role in trading decisions. When emotions come into play, they can ...
Taking calculated risks can lead to higher returns in the stock market
Taking calculated risks in the stock market is a strategy that many successful investors employ to achieve higher returns. By c...
Avoid market speculation and focus on longterm results
Market speculation can be a dangerous game for investors. It involves making bets on short-term price movements in the hope of ...
Stay vigilant and proactive in managing your investment portfolio
To succeed in the stock market, it is crucial to always stay alert and take an active role in overseeing your investment portfo...
Implement pivot points in various time frames for a wellrounded trading approach
To develop a comprehensive trading strategy, it is essential to incorporate pivot points across multiple time frames. By doing ...
Embrace uncertainty as part of the journey
The Dao of Capital teaches us that uncertainty is an inevitable part of the journey towards success. It is not something to be ...
Lower expense ratios boost returns
The concept of lower expense ratios boosting returns is a fundamental principle that all investors should pay attention to. Exp...
Consistently monitor your investments and make adjustments as needed to stay on track
To ensure your investments are meeting your financial goals, it is important to regularly review and adjust your portfolio as n...