Michael Marcus Quotes

Who the Heck is Michael Marcus?

Michael Phillips Marcus is an American commodities trader who, in less than 20 years, is reputed to have turned his initial $30,000 into $80 million.

Born January 01, 1956

Best 36 Quotes by Michael Marcus

“Always bet less than 5 percent of your money on any one idea. That way you can be wrong more than twenty times; it will take you a long time to lose your money.”

Michael Marcus

“As long as you stick to your own style, you get the good and bad in your own approach. When you try to incorporate someone else’s style, you often wind up with the worst of both styles. I’ve done that a lot.”

Michael Marcus

“Be contrarian.”

Michael Marcus

“Being a successful trader takes courage: the courage to try, the courage to fail, the courage to succeed, and the courage to keep on going when the going gets tough.”

Michael Marcus

“Determine what the central banks are going to do.”

Michael Marcus

“Ed Seykota is a genius and a great trader who has been phenomenally successful.”

Michael Marcus

“Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.”

Michael Marcus

“First, the fundamentals should suggest that there is an imbalance of supply and demand, which could result in a major move. Second, the chart must show that the market is moving in the direction that the fundamentals suggest. Third, when news comes out, the market should act in a way that reflects the right psychological tone.”

Michael Marcus

“Get out if you become unsure about a position.”

Michael Marcus

“Hold on to your winners and cut your losers.”

Michael Marcus

“I have learned not to be as attached to material things. I accepted it as a life lesson. I learned I don’t have to own a house in every beautiful place in the world; I can stay at a hotel and walk on the beach or climb a trail there. Or, if I really feel like spoiling myself, I can charter a plane; I don’t have to own one.”

Michael Marcus

“I look for confirmation from the chart, the fundamentals, and the market action. I think you can trade anything in the world that way.”

Michael Marcus

“I think the leading cause of financial disablement is the belief that you can rely on the experts to help you. Investing requires an intense personal involvement.”

Michael Marcus

“I think to be in the upper echelon of successful traders requires an innate skill, a gift. It's just like being a great violinist. But to be a competent trader and make money is a skill you can learn.”

Michael Marcus

“I think to be in the upper echelon of successful traders requires an innate skill, a gift. It’s just like being a great violinist. But to be a competent trader and make money is a skill you can learn.”

Michael Marcus

“I will continue to lose money and lose all, if I lack patience, so as to ignore the trading principle, and rush into the market without waiting until the main trend becomes clear.”

Michael Marcus

“If a position doesn't feel right as soon as you put it on, don't be embarrassed to change your mind and get right out. If you become unsure about a position, and you don't know what to do, just get out.”

Michael Marcus

“If we saw a surprise price move against us that we didn't understand, we often got out and looked for the reason later.”

Michael Marcus

“In the final analysis, you need to have the courage to hold the position and take the risk. You need to be aware that the world is very sophisticated and always ask yourself: ‘How many people are left to act on this particular idea?’ You have to consider whether the market has already discounted your idea.”

Michael Marcus

“Mathematics is the supreme nostalgia of our time.”

Michael Marcus

“Nowadays, I try to avoid the currencies, because I feel it is a totally political situation; you have to determine what the central banks are going to do.”

Michael Marcus

Your Ad Here?

Contact us!

“Nowadays, there are fewer and fewer profitable trading opportunities, so you have to be patient.”

Michael Marcus

“Perhaps the most important rule is to hold on to your winners and cut your losers. Both are equally important. If you don’t stay with your winners, you are not going to be able to pay for the losers.”

Michael Marcus

“See the signal, like the signal, follow the signal. If you follow your system or methodology then over time your edge will kick-in and you’ll end up ahead.”

Michael Marcus

“The best trades are the ones in which you have all three things going for you: fundamentals, technicals, and market tone.”

Michael Marcus

“The big players, including the governments, would always tip their hand.”

Michael Marcus

“The trend-following systems approach doesn't work anymore. The problem is that once you have defined a trend and taken a position, everyone else has taken a position as well. Since there is no one left to buy, the market swings around in the other direction and gets you out. One reason we don't have many good trends anymore is that the central banks are preventing currency moves from getting out of hand by taking the other side of the trend.”

Michael Marcus

“Trade assets that are not dominated by the big professional traders. I don't trade the Dow stocks. I prefer the little ones because they are not dominated by the big professional traders who are like sharks eating each other. The basic principle is that it is better to trade the Australian dollar than the Deutsche mark, and the small OTC stock than the big Dow stock.”

Michael Marcus

“Trading was a release and hobby for me. It replaced a lot of other things in my life.”

Michael Marcus

“When I’m losing money, I say to myself: you can’t keep trading. And when you get a good card, you should be patient to hold. Otherwise, you can’t make up for the money you lost when you got a bad card.”

Michael Marcus

“When the news is wonderful and a market can't go up, then you want to be sure to be short.”

Michael Marcus

“Whenever the market moves completely against my prediction, I will say: I was hoping to make a big profit on this volatility, but the market does not move as expected, so I will simply exit.”

Michael Marcus

“You develop an almost subconscious sense of the market on the floor. You learn to gauge price movement by the intensity of the voices in the ring. For example, when the market is active and moving, and then gets quiet, that is often a sign that it is not going to go much further. Also, sometimes when the ring is moderately loud and suddenly gets very loud, instead of being a sign that the market is ready to blast off, as you might think, it actually indicates that the market is running into a greater amount of opposing orders.”

Michael Marcus

“You have to consider whether the market has already discounted your idea. Always ask yourself: 'How many people are left to act on this particular idea?'. You can evaluate that by using the classic momentum-type indicators and observing market tone. How many days has the market been down or up in a row? What is the reading on the sentiment indexes?”

Michael Marcus

“You have to follow your own light. Because I have so many friends who are talented traders, I often have to remind myself that if I try to trade their way, or on their ideas, I am going to lose.”

Michael Marcus

“You must hold on to your good cards and quit your bad ones. If you cannot keep holding on to the good cards in your hand, how can you make up for the losses that bad cards cause? There are a lot of really good traders who end up giving up all their money because they are unwilling to stop trading when they lose money.”

Michael Marcus