“The difference between a bear market and a bull market is like the difference between being in NYC and the South of France.” (DYNAMIC HEDGE)

“It takes, on average, 21 days to form a habit while taking much longer to unlearn one.”  (DARREN MILLER via ATTITRADE)

“Regardless of what people claim, a negative pang is not offset by a positive one (some psychologists estimate the negative effect for an average loss to be up to 2.5 the magnitude of a positive one); it will lead to an emotional deficit.” (NASSIM NICHOLAS TALEB)

“Given that people’s thoughts and choices, by definition, play the single most powerful role in shaping our society, why does studying the human mind seem like such a dispensable endeavor?” (INGRID WISKELGREN via SCIENTIFIC AMERICAN)

“We’re obviously all at the mercy of forces we only dimly perceive and events over which we have no control, but it’s still unsettling to discover that there are people out there—human beings of whose existence you are totally oblivious—who have effectively toyed with your life.” (MICHAEL LEWIS via VANITY FAIR)

“I feel grateful for being a huge loser.  It’s given me a sense of respect for the market that I don’t believe I would have been able to develop without it.” (JESSICA PELETIER via ROGUE TRADERETTE)

“What I found interesting about this is that my brain is engaged in ways that I do not fully understand or appreciate during the trading day. And perhaps, by considering the brain’s chemistry and physiology we can make improvements to our lives through more conscious living.” (IAIN MCGILCHRIST via SEA OF OPPORTUNITY)

“So next time you make a comment or dismiss something that you don’t think you need as a market participant – really give it some thought.” (J.C. PARETS via ALL STAR CHARTS)

“A brilliant mistake is an action you take or a prediction you make that turns out to be wrong. This hurts you initially, but then it also opens up new vistas, and it may result in innovation and discovery.” (STEPHEN J. KOBRIN via WHARTON)

“The significance is that a trading event is nothing more or nothing less than the next data point in a series of data points subject to random distribution and governed my statistical probability. Like it or not, this is truth.” (PETER L. BRANDT via FACTOR)

“On the battlefield of the financial markets, upon which we trade, there will always be pecuniary casualties.” (HAWK ARPS via ARPS TOOLBOX)

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