Tom Basso Quotes

“As a trader, I never thought of myself as a trader. I thought of myself as a businessman running a trading operation.”

“As long as you learn something from a loss, it's not really a loss.”

“As soon as you take responsibility for your life, you can change the world.”

“I find that using systems gets the monkey off your back. If you lose money today, it’s not your fault; it’s the system that had the problem.”

“I stopped looking at the losses as problems and started viewing them as opportunities.”

“I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell.”

“I think investment psychology is by far the most important element, followed by risk control, with the least important consideration being the question of where you buy and sell.”

“If all of a sudden the risk is low, you can take on a bigger position. If the risk is high, take on a smaller position.”

“If you don’t have your mental side screwed on straight, you are going to find a way to completely screw up.”

“If you’re not aware that you’re making an impulsive decision, then you will have a hard time correcting that back to the strategy and getting back on plan.”

“It’s a matter of both having confidence and being comfortable in the approach you’re using.”

“It’s the point of diversification, you’re spreading the risks.”

“Quit trying to predict.”

“Smart is working smarter instead of harder.”

“The market will do what the market will do.”

“The perfect strategy doesn’t exist.”

“Think of life as a movie in which you’ll see what you’re seeing right now only one time. You’ll never see it exactly the same way again. Absorb it; be aware of it; enjoy it.”

“When your account has these massive swings up and down, there's a tendency to feel a rush when the market is going your way and devastation when it's going against you. These emotions do absolutely nothing to make you a good trader. It's far better to keep the equity swings manageable and strive for a sense of balance each day, no matter what happens.”

“Why would anybody buy fire insurance? You’re not wishing yourself to have a fire, but if the fire is going to burn down the house and then you got to rebuild it, it’d be nice to have something to manage that risk.”

“You don’t want to get excited about a trade. You don’t want to get down on a trade. It’s just one more data point.”

“You got to say, if the following X number of things happen, I’m going to buy at this point.”