Steve Burns > Quotes

“Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant.”
― Steve Burns, Investing Habits: A Beginner's Guide to Growing Stock Market Wealth

“Fear, greed, and ego are very expensive monkeys to have on your back while trading.”
― Steve Burns, New Trader,Rich Trader 2: Good Trades, Bad Trades

“Most traders are trading based on their own predictions, opinions, and emotions. These are the worst trading signals. Instead, develop trading rules that will guide you. Replace your opinions with trade signals, your ego with position sizing, and your emotions with a trading plan.”
― Steve Burns, Trading Habits: 39 of the World's Most Powerful Stock Market Rules

“El mayor avance hacia la rentabilidad viene cuando paramos de operar basándonos en lo que pensamos que va a suceder en el mercado, y en lugar de eso aprendemos a operar señales que reaccionan a lo que está pasando. Los patrones gráficos, las medias móviles y las roturas de rango están diseñadas para capturar las tendencias basándose en señales.”
― Steve Burns, Trading Habits: 39 de las mejores reglas para operar en bolsa

“The trading rules aren’t meant to reduce a trader’s freedom, they are meant to keep traders safe from themselves.”
― Steve Burns, New Trader Rich Trader 2: 2nd Edition: Revised and Updated: Good Trades Bad Trades

“Trading is not the path to free money; profits must be earned through homework, discipline, courage, patience, and perseverance in the markets.” – Rich Trader”
― Steve Burns, New Trader Rich Trader 2: 2nd Edition: Revised and Updated: Good Trades Bad Trades

“Traders should get in the habit of finding ways to capture trends as the price zigzags and then continues in the primary market direction. Ability to filter out noise and capture a trend is a trader’s primary responsibility during system development.”
― Steve Burns, Trading Habits: 39 of the World's Most Powerful Stock Market Rules

“Downtrends tend to trade under the 50 RSI while uptrends tend to trade over the 50 RSI. - A close under the 30 RSI opens the possibility of a parabolic downtrend. - A close over the 70 RSI opens the possibility of a parabolic uptrend.”
― Steve Burns, Buy Signals Sell Signals:Strategic Stock Market Entries and Exits

“The system you follow with discipline over time, that you have faith in, is the one that will make you the most money.”
― Steve Burns, New Trader Rich Trader

“The sooner you realize you’re trading against other traders and not just the stocks or the market, the better off you will be.” Quint Tatro”
― Steve Burns, New Trader Rich Trader

“RSI Signals During uptrends, the 30-35 RSI range on the daily chart presents good risk/reward opportunities for buying the dip. The stop loss is a close under the 30 RSI. Profit target is the 50 RSI. When the RSI is in the 65-70 range, it is considered overbought and can provide good risk/reward opportunities for selling short.  Buy to cover with a close over the 70 RSI. Profit target is the 50 RSI. - A break over the 50 RSI is bullish. - A break under the 50 RSI is bearish.”
― Steve Burns, Buy Signals Sell Signals:Strategic Stock Market Entries and Exits

“The sole objective of trading is not to prove you’re right, but to hear the cash register ring.” – Martin Schwartz”
― Steve Burns, New Trader,Rich Trader 2: Good Trades, Bad Trades

“You need to focus on a sound strategy, system, and trading plan and not profits. Good trading will create your profits, but focusing on your profits will usually lead to bad trading.”
― Steve Burns, New Trader Rich Trader

“New traders will be tempted to give up, particularly when they see that the first few years are more about studying and learning rather than making money. But there are some compelling reasons not to give up on trading; it will teach you about yourself, it will make you better in other aspects of your life, it can create a consistent stream of income, and nothing else offers the same level of control over your personal finances or your future.”
― Steve Burns, New Trader Rich Trader

“MACD Signals - When the MACD line crosses over the signal line it is buy signal. - When the MACD line crosses below its signal line it is sell signal.”
― Steve Burns, Buy Signals Sell Signals:Strategic Stock Market Entries and Exits

“A reactive trader will exit a losing trade when the price move proves they are wrong.”
― Steve Burns, New Trader Rich Trader 2: 2nd Edition: Revised and Updated: Good Trades Bad Trades

“I think more clearly about many aspects of my life, and my journal has become a self-help journal as well as a trading journal”
― Steve Burns, New Trader Rich Trader