51.Commodity trading is the art of regarding fear as the greatest sin and giving up as the greatest mistake. It is the art of accepting failure as a step toward victory.
52.Have you taken a loss? Forget it quick. If you have taken a profit, forget it quicker. Don’t let ego and greed inhibit clear thinking and hard work.
53.The characteristics of realizing bull market are:
a.a fundamental bullish situation
b.a reluctance by specs to buy
c.an inversion or small carrying charge between cash and futures
d.business interests are either cautious or bullish
54.Always remember that weather markets are mercurial, extreme in price fluctuations, and very difficult to master. Forecasts of weather beyond a few days are not reliable.
55.One cannot do anything about yesterday. When one door closes, another door opens. The greater opportunity nearly always lies through the open door.
56.The deepest secret for the trader is to subordinate his will to the will of the market. The market is truth as it reflects all forces that bear upon it. As long as he recognizes this, he is safe. When he ignores it, he is lost.
57.Somewhere a change is occurring that can make you rich.
58.Beware of “fools disease” (i.e. Waiting for trades that you’re sure are 100 pct profitable.) It is better never to let yourself believe that you are 100 pct sure of anything.
59.A known fundamental is a useless fundamental.
60.Major trends are seldom broken unless market goes against trend for more than 3 consecutive days.
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