Paul Rotter, Ed Seykota, Jesse Livermore, Benjamin Graham, Richard Dennis, Paul Tudor Jones, Warren Buffet

Alexander Elder: A trader is the weakest link of any trading system
 

Quote from the Traders Magazine Interview 2004 Paul Rotter: The Worlds most Successful Trader

Q: Why don't you have any problems with closing out the position and even taking the opposite direction? Shouldn't a trader stick to his opinion?

A: No, definetly not. an analyst or some kind of gure has to stick to it, but as a trader you should have no opinion. The more opinion you have, the harder gets it to get out of a losing position. 

One of the most used sayings in the stock market is “Trade what you SEE, not what you THINK”. Just wonder how many traders took this simple advice seriously and understood its real meaning. It they were, I am sure they would increase their trading profits multi-folds.

Warren Buffet: Rule number one of investing is never lose money. Rule number two is never forget rule number 1

Paul Tudor Jones: "If I have positions going against me, I get right out; if they are going for me, I keep them... Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in."

Most of people only focus on how much this trade could make. Never think about what if it lost.

Paul Tudor Jones: Don't focus on making money; focus on protecting what you have

Who is Paul Tudor Jones?