Bill Lipschutz Professions : Trader Born : 1956 Browse All Authors Top 5 quotes by Bill Lipschutz Always understand the risk/reward of the trade as it now stands, not as it existed when you put the position on. Some people say, "I was only playing with the market's money." That's the most ridiculous thing I ever heard. Bill Lipschutz rewards risk people It's very difficult to be different from the rest of the crowd the majority of the time, which by definition is what you're doing if you're a successful trader. Bill Lipschutz majority different successful I don't think you can consistently be a winning trader if you're banking on being right more than 50 percent of the time. You have to figure out how to make money being right only 20 to 30 percent of the time. Bill Lipschutz banking winning thinking When you're in a losing streak, your ability to properly assimilate and analyze information starts to become distorted because of the impairment of the confidence factor, which is a by-product of a losing streak. You have to work very hard to restore that confidence, and cutting back trading size helps achieve that goal. Bill Lipschutz information cutting goal If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money. Bill Lipschutz more-money traders hands Similar Authors Ed Seykota trader Linda Bradford Raschke trader Michael Marcus trader Martin S. Schwartz trader Marc Rich trader Jerome Kerviel trader All Authors
