Jack D. Schwager Quotes Page 2
Best 44 Quotes by Jack D. Schwager – Page 2 of 2
The Little Book of Market Wizards Quotes
“There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.”
The New Market Wizards Quotes
“Excellence and achievement have a structure that can be copied. By modeling successful people, we can learn from the experience of those who have already succeeded.”
“I discovered that you can’t train people how to trade by just imparting knowledge. The key to trading success is emotional discipline. Making money has nothing to do with intelligence. Think of all the bright people that choose careers on Wall Street. If intelligence were the key, there would be a lot more people making money trading.”
“If instead of saying, “I’m going to do this trade,” you say, “I’m going to watch myself do this trade,” all of a sudden you find that the process is a lot easier.”
“My goal on Wall Street was never to get rich but to stay in business. There’s a big difference. If you’re out of the business, you can never get rich. That’s why you have to be especially cautious when you’re trading a larger position size.”
“Now it’s no longer sufficient to assume that because you trade with the trend, you’ll make money. Of course, you still need to be with the trend, because it puts the percentages in your favor, but you also have to pay a lot more attention to where you’re getting in and out.”
“The worst thing that can happen to you in the markets is being right and still losing money. That’s the danger in buying on rallies and selling on breaks these days.”
“There are a million ways to make money in the markets. The irony is that they are all very difficult to find.”
“You don't have to get in or out of a position all at once. Avoid the temptation of wanting to be completely right.”
“You don’t want to have a position before a move has started. You want to wait until the move is already under way before you get into the market.”
“You just stay focused on what you have to do. Exactly.”
Unknown Market Wizards Quotes
“Debussy’s quote that “Music is the space between the notes,” because an analogous statement about trading—Trading is the space between trades—is so strikingly apropos.”
“I succeeded because I didn’t know that I couldn’t.”
“It’s not about being right; it’s about making money.”
You Might Like
“If the dividend yield is over 4.50%, there is probably something wrong. Either the company has an enormous amount of debt or underfunded pension obligations (like AT&T), which makes the stock more risky.
Or the market is pricing in the chance of a dividend cut. Either way, you are better off sticking with the 2.50% to 4.50% dividend yield range. That’s where the more normal healthy companies will be found.”
You Might Like These Related Authors
- Ray Dalio
- Richard Dennis
- Curtis M. Faith
- Matthew R. Kratter
- Jesse Livermore
- Peter Lynch
- William J. O'Neil
- Brian Pezim
- Fred Schwed, Jr.
- Ed Seykota