The top mindset of top trading masters, how many do you agree with?
Jesse Livermore: The market is always right, only opinions can be wrong.
In addition, he has two other views:
First, be bullish in a bull market and bearish in a bear market.
Second, making big money relies on patience, not thinking.
George Soros: It doesn't matter whether predictions are right or wrong; what matters is minimizing potential losses.
Paul Tudor Jones (King of Macro Hedge Funds): The market rewards risk controllers, not adventurers.
Ed Seykota (Father of Systematic Trading): Trading success = 20% method + 80% psychological control.
He said in 'Market Wizards': My trading system is like a compass; it doesn't tell me where the destination is, but it ensures I am always headed in the right direction.
Richard Dennis (Founder of the Turtle Trading Rules): You can teach someone the rules of trading in 20 seconds, but it takes 20 years to get them to follow those rules.
Mark Douglas (Master of Trading Psychology): Losing traders always want to control the market, while winners focus on controlling themselves.
Reprinted from 'Lao Le Wei Wei'