Anirudh Sethi Report

Mastering the market with quiet Iortitude and inner calm.

Quotes From Legendary Traders
19 August 2010
'I absolutely believe that price movement
patterns are being repeated; they are recurring patterns that appear over and over. This
is because the stocks were being driven by humans- and human nature never
changes.

-Jesse Livermore (Considered by many to be the greatest stock market operator ever.
Made 100 million dollars in 1929 stock market crash. Made several other multi-
million dollar Iortunes in his trading career).

'You have to cut your losses Iast. The secret Ior winning in the stock market does not
include being right all the time. The key is to lose the least amount possible when you
are wrong.

-William J. O`Neil (In my opinion, the best stock market operator in the world today.
Has made an incredible Iortune trading the stock market. O`Neil is the Iounder oI
Investors Business Daily. Much oI my stock market education and training has been
Irom William J. O`Neil).

'Whatever method you use to enter a trade, the most critical thing is that iI there is a
major trend, your approach should assure that you get in that trend.
-Richard Dennis (Turned 400 dollars into a Iortune oI at least 200 million dollars by
using his remarkable trading skills).

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'I am primarily a trend trader. In order oI importance to me are: (1) the long-term
trend, (2) the current chart pattern, and (3) picking a good spot to buy or sell.
-Ed Seykota (One oI the greatest traders oI all time. Turned 5000 dollars into an
incredible 15 million dollars or more).

'The most important rule oI trading is to play great deIense.

-Paul Tudor Jones (An amazingly consistent and successIul trader. In 2006, earned a
whopping 750 million dollars).

'Being right 3 or 4 times out oI 10 should yield a person a Iortune iI he has the sense
to cut his losses quickly on the ventures where he has been wrong.

-Bernard Baruch (Fantastic trader who earned ten`s oI millions oI dollars in the Iirst
part oI the 20th century).

'The greatest saIety lies in putting all your eggs in one basket and watching that
basket.

-Gerald M. Loeb (Amassed many millions in the stock market during his long career).

'I am looking Ior the strongest stocks in the market, in terms oI both earnings and the technical
picture
-David Ryan (Multiple time winner in the stock division oI the U.S. Investing Championships).

'Most oI my success has been due to my hanging on while my proIits mounted. There is the big
secret.
-Arthur W. Cutten (Gained wealth and prominence, early in the 20th century, as a commodity
trader, mostly in the wheat market.

'I think the secret is cutting down the number oI trades you make. The best trades are
the ones in which you have all three things going Ior you: Iundamentals, technicals,
and market tone.

- Michael Marcus (In a ten-year period, he multipled his company account by an
incredible 2500 times).

'Whenever I enter a position, I have a predetermined stop. I know where I`m getting
out beIore I get in.
-Bruce Kovner (One oI the world`s largest traders in the 1980`s. Made proIits oI over
300 million trading Ior himselI).

'I try to assemble Iacts and decide what kind oI scenario I think will unIold.

-Bill Lipschutz (One oI the most successIul currency traders ever).

'Virtually every successIul trader I know ultimately ended up with a trading style
suited to his personality.

-Randy McKay (Turned $2000 into $70,000 his Iirst year oI trading. Went on to
double digit million dollar gains).

'The biggest misconception is the widespread belieI that it is easy to make a living
trading in the stock market.
-Stuart Walton (Fantastic stock trading track record in the 1990`s).

'II you decide to trade Ior a living, you have to treat it just like any other business
endeavor and go into it with a plan.

-Mark D. Cook (Great annual returns trading the markets).