Marko Hristov

“When I was running a software company, we always knew it would take one great programmer to solve a hard problem in one night versus 10 mediocre programmers taking a month to screw up a problem even worse.”
― James Altucher, Reinvent Yourself

“That’s the problem with amateurs, they only have half a plan, the easy half. They know how much of a profit they’re willing to take, but they don’t have the foggiest idea how much they’re willing to lose. They’re like deer in the headlights, they just freeze and wait to get run over. Their plan for a position that goes south is, “Please God, let me out of this and I’ll never do it again,” but that’s bullshit, because if by chance the position turns around, they’ll soon forget about God.”
― Martin Schwartz, Pit Bull: Lessons from Wall Street's Champion Trad

“I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors. 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude