"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 before I get in. The position size on a trade is determined by the stop, and the stop is determined on a technical basis. I never think about other people who may be using the same stop, because the market shouldn't go there if I am right"

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Source : "Market Wizards: Interviews with Top Traders". Book by Jack D. Schwager, 1989.

Bruce Kovner

#Sleep Quotes #Thinking Quotes #People Quotes