Tom Baldwin: The Fearless Pit Trader

“You don’t need it. You don’t need any education at all to do it. The smarter you are, the dumber you are. The more you know, the worse it is for you.” – Tom Baldwin What kind of things would tip you off that he is a loser? “Most important, losers don’t work hard enough. Most people walk in and think there is a 50/50 chance on any trade. They don’t think there is anything more to it than that. They... Read More

Marty Schwartz: Champion Trader (Market Wizards)

“ I hired four people, but nobody lasted. They all became intimidated. I tried to clone myself and it didn’t work. I taught them all my methodologies, but learning the intellectual side is only part of it. You can’t teach them your stomach.” What is the best advice you can give to the ordinary guy trying to become a better trader? “Learn to take losses. The most important thing in making money is not letting your losses... Read More

Mark Weinstein – High-Percentage Trader (Market Wizards)

How do you explain your ability to win such a high percentage of the time? Because I have a real fear of the markets. I have found that the greatest traders are the ones who are most afraid of the markets. My fear of the markets has forced me to hone my timing with great precision. When I am trading properly, it is like a pool player running racks. If my gut feel of market conditions is not right, I don’t trade. My timing is a combination of... Read More

James B. Rogers, Jr.: Buying Value and Selling Hysteria (Market Wizards)

“I learned quickly not to do anything unless you know what you are doing. I learned that it is better to do nothing and wait until you get a concept so right, and a price so right, that even if you are wrong, it is not going to hurt you.” Jim Rogers’ unique approach may be difficult to emulate in its entirety, but many of his trading principles are of great relevance to all traders. His basic concepts are: Buy value. If you buy... Read More

What are the elements of good trading?

“Good trading is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake. You need to believe in something, but at the same time, you are going to be wrong a considerable number of times. The balance between confidence and humility is best learned through extensive experience and mistakes. There should be a respect for the person on the other side of the trade. Always ask... Read More

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William O’Neil, investidor proeminente, nos fornece a fórmula CAN SLIM, para engordar sua conta: Current earnings (quarter to quarter) Annual earnings (five years) New (product, new high price from the base) Leader (eighty-percent better than other shares) Share outstanding (less capitalization, more growth potential) Institutional sponsorship (but not all) Market (going with the wind) Mais detalhes: http://en.wikipedia.org/wiki/CAN_SLIM  Read More

Market Wizards: Michael Steinhardt

“Although I don’t really trade off of them, there are two that come to mind. First, if a market doesn’t respond to important news in the way that it should, it is telling you something very important. For example, when the news of the Iran/Iraq war first came out over the newswire, gold was only able to move up $1. I said to myself, “A Middle East war has just broken out and the best the gold market can do is go up $1; it... Read More