Timeless Wisdom: Key Principles from Trading Classics

John J. Murphy - "Technical Analysis of the Futures Markets":

"Technical analysis is the art of interpreting market data through charts and indicators. It is not an exact science. It is an art that requires skill and discipline."

"The tops and bottoms on the charts do not occur at the same time. The trader must be alert to signs that warn of a possible trend change."

Perry J. Kaufman - "New Trading Systems and Methods":

"Planning in the trading market is risk reduction. If risk is controlled, potential profit provides adequate reward."

"Risk management begins with the realization that you have the opportunity to lose."

Peter Lynch - "One Up On Wall Street":

"Investors often make mistakes trying to predict which sector or company will be the most successful in the future."

"To make money in the stock market, you have to buy shares in successful companies and wait for the market to recognize that."

Dr. Alexander Elder - "Trading for a Living":

"Winning traders create plans that define their trading goals and adhere to them."

"Trading is a battle for risk management, not for predicting the future."

Jeremy J. Siegel - "Stocks for the Long Run":

"The history of financial markets is a history of continuous growth."

"In the end, long-term investors always win."

Burton G. Malkiel - "A Random Walk Down Wall Street":

"Attempts to predict future market movements usually end in failure."

"Over the long term, markets reflect the fundamental structure of the economy."

Robert D. Edwards and John Magee - "Technical Analysis of Stock Trends":

"Technical analysis does not predict, but assesses current sources of supply and demand."

"Trend analysis is a continuous process. The market cannot move in one direction forever."

These quotes encapsulate key principles emphasizing the importance of planning, risk control, long-term approach, and caution regarding market forecasting.