Words of Wisdom

I can never go to sleep when reality is better than my dreams. ~ Paulo Avelino

Price represents the consensus of value among market participants. Volume reflects their level of commitment, financial as well as emotional. Price reflects what people think, and volume what they feel.

Leaving a secret in the open can be the best way of hiding it.

There are no certainties in the markets, only probabilities.

There is an old Russian saying: \"your elbow is near, yet you can��t bite it.\"

Neither bragging nor beating yourself makes you a better trader.

Professional traders, once they find a technique that works for them, tend to stay with it. They��d rather miss a trade than change to an unfamiliar style.

A relationship is like a job. You have to work hard to get in it, and you have to work even harder to stay in it.

A new hunter walks into the woods with a load of fancy gear on his back but soon discovers that most of it only slows him down. An experienced woodsman travels light.

An amateur tries to grab a bit of money here and there. He uses one technique today and another tomorrow. His mind is scattered and he keeps losing, enriching only his broker and floor traders.

Remember, the first item on the agenda for a beginner is to learn how to trade, not to make money. Once you��ve learned to trade, money will follow.

It is exciting to jump in, but excitement is not what good traders are after. If you do not have a specific trading plan, you��re better off taking your money to Vegas. The outcome will be the same, but at least there they��ll throw in some free drinks.

As a matter of fact, other market participants want you to be undisciplined and impulsive. That makes it easier for them to get your money.

Healthy trading boils down to two questions you need to ask in every trade: ��What is my profit target?�� and ��How will I protect my capital?��

You have to prepare yourself, choose your fight, go in when you are ready, and quit after you��ve done what you��ve planned.

A man who is cool and sober calmly picks his fights. He enters and leaves when he chooses and not when some bully throws him a challenge.

A disciplined player chooses his own game out of hundreds available. He doesn��t have to chase every rabbit like a dog with its tongue hanging out�Xhe lays an ambush for his game and lets it come to him.