---
title: "1 Wrong Point Quotes By Bruce Kovner"
description: "1 Wrong Point quotes by Bruce Kovner. Plus more from Bruce Kovner and more Wrong Point sayings from other authors."
image: "https://sms4smile.com/quotes/i/da3/bruce-kovner-30819_amount_place-your-stops-at-a-point-that-if-reac_1653797.png"
---

> [Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose](https://sms4smile.com/quotes/bruce-kovner/place-your-stops-at-a-point-that-if-reached-will-reasonably-indicate/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

[Image](https://sms4smile.com/quotes/i/da3/bruce-kovner-30819_amount_place-your-stops-at-a-point-that-if-reac_1653797.png)

## More by Bruce Kovner

> [Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says he’s not going to…](https://sms4smile.com/quotes/bruce-kovner/fundamentalists-who-say-they-are-not-going-to-pay-any-attention-to/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [In 1983, I set up Caxton Corp. Its been an interesting and happy ride since.](https://sms4smile.com/quotes/bruce-kovner/in-1983-i-set-up-caxton-corp-its-been-an-interesting-and-happy-ride/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your…](https://sms4smile.com/quotes/bruce-kovner/risk-management-is-the-most-important-thing-to-be-well-understood/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [Novice Traders trade 5 to 10 times too big. They are taking 5 to 10% risks on a trade they should be taking 1 to 2 percent risks.](https://sms4smile.com/quotes/bruce-kovner/novice-traders-trade-5-to-10-times-too-big-they-are-taking-5-to-10/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [In 1983, I set up Caxton Corp. It's been an interesting and happy ride since.](https://sms4smile.com/quotes/bruce-kovner/in-1983-i-set-up-caxton-corp-it-s-been-an-interesting-and-happy-ride/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [If you personalize losses, you can't trade.](https://sms4smile.com/quotes/bruce-kovner/if-you-personalize-losses-you-can-t-trade/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on…](https://sms4smile.com/quotes/bruce-kovner/my-experience-with-novice-traders-is-that-they-trade-three-to-five/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [The first rule of trading - there are probably many first rules - is don't get caught in a situation in which you can…](https://sms4smile.com/quotes/bruce-kovner/the-first-rule-of-trading-there-are-probably-many-first-rules-is-don/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [If you don't work very hard, it is extremely unlikely that you will be a good trader.](https://sms4smile.com/quotes/bruce-kovner/if-you-don-t-work-very-hard-it-is-extremely-unlikely-that-you-will-be/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [I caught hold of the great bull market in soybeans in 1977. I had no idea what I was doing, incidentally.](https://sms4smile.com/quotes/bruce-kovner/i-caught-hold-of-the-great-bull-market-in-soybeans-in-1977-i-had-no/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by…](https://sms4smile.com/quotes/bruce-kovner/place-your-stops-at-a-point-that-if-reached-will-reasonably-indicate/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [ Michael \[Marcus\] taught me one thing that was incredibly important... He taught me that you could make a million dollars. He showed me that… ](https://sms4smile.com/quotes/bruce-kovner/michael-marcus-taught-me-one-thing-that-was-incredibly-important-he/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I'm getting out…](https://sms4smile.com/quotes/bruce-kovner/whenever-i-enter-a-position-i-have-a-predetermined-stop-that-is-the/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong…](https://sms4smile.com/quotes/bruce-kovner/michael-marcus-taught-me-one-other-thing-that-is-absolutely-critical/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

> [In a bear market, you have to use sharp countertrend rallies to sell.](https://sms4smile.com/quotes/bruce-kovner/in-a-bear-market-you-have-to-use-sharp-countertrend-rallies-to-sell/)

[Bruce Kovner](https://sms4smile.com/quotes/author/bruce-kovner/)

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