Wisdom from Trading Legends
Learn from those who've mastered the markets
"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading."
Victor Sperandeo
On Money Management
"The most important rule of trading is to play great defense, not great offense."
Paul Tudor Jones
Hedge Fund Manager"Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1."
Warren Buffett
Oracle of Omaha"It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong."
George Soros
Legendary Investor"He who lives by the crystal ball will eat shattered glass. The biggest mistake investors make is to believe that what happened in the recent past is likely to persist."
Ray Dalio
Bridgewater FounderOn Risk Management
"The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses."
Ed Seykota
Market Wizard
"Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk."
Larry Hite
Systematic Trader
"The consistency you seek is in your mind, not in the markets."
Mark Douglas
Trading Psychologist
On Trading Psychology
"The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer."
Jesse Livermore
Legendary Trader (1877-1940)
"The whole secret to winning in the stock market is to lose the least amount possible when you're not right."
William O'Neil
Founder of Investor's Business Daily
"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."
Jack Schwager
Author of Market Wizards
Indian Market Veterans
"Risk comes from not knowing what you are doing."
Rakesh Jhunjhunwala
Big Bull of Dalal Street
"Keep it simple. Buy good businesses at reasonable prices."
Radhakishan Damani
DMart Founder
"Trading is a marathon, not a sprint. Focus on risk management and the profits will follow."
Nithin Kamath
Zerodha Founder
Key Takeaways from the Masters
Protect Capital
Defense wins championships
Cut Losses
Small losses, big wins
Master Psychology
Control emotions, not markets
Risk-Reward
Asymmetric opportunities