"My experience with novice traders is that they……" — 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 a trade when they should be taking 1 to 2 percent risks. The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade."
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Bruce Kovner
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12 Quotes by Bruce Kovner
Bruce Kovner has 12 quotes on this site.
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Novice Traders trade 5 to 10 times too big. They are taking 5 to 10% risks on a trade they…
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Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says…
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Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know…
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Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a…
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The Heisenberg principle - If something is closely observed, the odds are it is going to be altered in the…
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Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly;…
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In a bear market, you have to use sharp countertrend rallies to sell.
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Michael [Marcus] taught me one thing that was incredibly important... He taught me that you could make a million dollars.…
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Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice.…
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If you don't work very hard, it is extremely unlikely that you will be a good trader.
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I caught hold of the great bull market in soybeans in 1977. I had no idea what I was doing,…
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