...Trading and life...

STOCK TRADING WISDOM 

"If you can have emotional detachment from your P/L (profit-and-loss), then you can actually have consistency when you make losses and when you actually win."  

- Anton Kriel

"Trade your risk, not your P&L." 

- Raj Malhotra (taken from Remote Mentorship)

"There's ... 45k possible investments you can make out there in markets. So cutting out the noise is one of the key things you need to do."  

- Anthony Iser 

"Your open P&L (profit & loss) is nothing; you've got to take profits."  

- Ed Shek 

QUOTES by JACK SCHWAGER "MARKET WIZARDS" (underline and bold tP|T emphasis)

• “First, failure is not predictive. Even great traders often encounter failure—and even repeated failures—early in their careers.” 

• “Were it not for their relentless persistence, many of the Market Wizards would never have discovered their ultimate potential.” 

• “A trader’s job is to take losses. A losing trade doesn’t imply you did anything wrong. The hard part about trading is that you can do the right thing and still lose money.” 

• “Learn not to take a loss personally. The markets don’t care about who you are.” 

• “Being wrong is acceptable, but staying wrong is totally unacceptable.” 

• “Good traders liquidate when they are wrong; great traders reverse when they are wrong.” 

GENERAL LIFE WISDOM (These work for both life &trading)

"You get good judgment over time by making bad judgments."  

- Charlie Munger 

"Muddy water is best cleared by leaving it alone."  

- Alan Watts

"You know when you find it; In your darkest hour you strike gold." 

- Jerry Cantrell, Alice In Chains - Lesson Learned, Black Gives Way To Blue (album), 2009

"From first to last, the peak is never passed; something always fires the light that gets in your eyes." 

- Neil Peart, Rush - Marathon, Power Windows (album), 1986

"You can't solve a problem with the same mind you created it with."  

- -  Anonymous

"If you are going to live in the mindset of 'opportunities,' then you must free yourself of the emotional pain of "disappointed guarantees."  Guarantees are not opportunities.  Rather, guarantees are the enemy of opportunities.  

- (t)PT (The Philosophic Trader)

"There is a simple yet profound difference between 'Making Money' and 'Getting Paid.' " 

- (t)PT

"Only mind can develop solutions, and solutions solve problems.  Emotion should be reserved for empowering the execution of well drafted solutions." - (t)PT

"You teach what you know, but you re-create what you are."  

- John Maxwell

"My enemies usually trend towards taking themselves out."  

- Anonymous

"We often suffer in life because of having abandoned necessity based execution with a "desire to stand out" syndrome."  

-(t)P|T

"A mind without instruction can no more bear fruit, however fertile, without cultivation.  

--Cicero 

“Don’t look to fall in love, look to fall in trust. Love as an emotion will operate from within those protective confines.” 

- (t)P|T

“In a rock slide, it's the bigger rocks and boulders tumble further down the mountain into the valley below.  The majority of the smaller rocks and pebbles stay closer to the top."  

-(t)P|T

“You are not the ideal of yourself, you are the outcome.”  

-(t)PT  

“Virtue signaling is easy; virtue sustaining is the part nobody posts about.”

-(t)P|T

"The only thing I "shill" for is observational data." 

-(t)P|T

"True discipline here isn't about white-knuckling through misery; it's pre-deciding so the chaos of impulse has fewer entry points.  

-(t)P|T

Then, like a horse, you're not suppressing the wild energy of ambition, desire, aggression, and curiosity.  Rather, you are directing it; channeling it for productivity."  

-(t)P|T

"Beware of decay masquerading as hope, to continue with something that takes more than it gives."

-(t)P|T

“The Keystone becomes the quiet hero of every passage."  

-(t)P|T : Video 2 - Options Trading Mindset: Ferrari, Martial Arts & MORE

RICHARD FEYNMAN (Renowned Physicist)

NOTE:  I find these quotes, from a physicist who worked on The Manhattan Project, quite similar with stock options trading, and life in general.  

• "The first principle is that you must not fool yourself—and you are the easiest person to fool."

• "I would rather have questions that can't be answered than answers that can't be questioned."

• "If you can't explain something to a first-year student, then you haven't really understood it."

• "What I cannot create, I do not understand." — famously written on his blackboard at Caltech

• "I think it's much more interesting to live not knowing than to have answers which might be wrong."

• "Science is the belief in the ignorance of experts."

• "I learned very early the difference between knowing the name of something and knowing something."

SATIRICAL   -(t)P|T

• "When life gives you lemons, ask for receipts -  -you probably ordered coffee."

• “Common sense is so rare it's basically a luxury good now—most people are still on the waitlist.”

• “If at first you don’t succeed, then skydiving definitely isn’t for you.” 

• “Philosophy class taught me to question everything; options trading taught me to question my life choices at 3x leverage.”

• “Common is sense is like deodorant. The people who need it most never use it.” 

• “I don't lose big on trading, I perform logical gravity checks.” 

• “The secret to inner peace is realizing the universe doesn't owe you a reply, much less a like.”

• “The meaning of life might be well hidden, but the Wi-Fi password is usually written down somewhere obvious.” 

• "In Options Trading, we don’t rise and shine—we caffeinate and cope.” 

• “We’re all philosophers until the caffeine wears off.” 

• "I'd platform your virtue signaling if I could tune its radio frequency." 

 - - More To Follow - - 

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