Trading stocks and forex can be a very lonely road at times, we need to be able to pick ourselves up from a loss and maintain a level head when we are winning. The keys to success in trading is staying motivated and being enthusiastic whether we are in a winning or a losing trade.
Below is a list of quotes from some of the most successful investors in the world that we have used as fuel in our journeys as traders. We hope you can find some inspiration.
“Money is made by sitting, not trading.” – Jesse Livermore
“Letting losses run is the most serious mistake made by most investors.” – William O’Neil
“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” – Ed Seykota
“Frankly, I don’t see markets; I see risks, rewards, and money.” – Larry Hite
“I always define my risk, and I don’t have to worry about it.” – Tony Saliba
“The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.” – Victor Sperandeo
“I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell.” – Tom Basso
“If I have positions going against me, I get right out; if they are going for me, I keep them… Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.” – Paul Tudor Jones
“Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” – Marty Schwartz
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.” – Jesse Livermore
"The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder
“I have learned through the years that after a good run of profits in the markets, it`s very important to take a few days off as a reward. The natural tendency is to keep pushing until the streak ends. But experience has taught me that a rest in the middle of the streak can often extend it.”– Marty Schwartz
“I’ll keep reducing my trading size as long as I’m losing… My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds.” – Randy McKay
“In this business if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.” -Peter Lynch
“It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett
“In investing, what is comfortable is rarely profitable.” – Robert Arnott
“I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have” – Paul Tudor Jones.
“If you personalise losses, you can’t trade.” – Bruce Kovner
“Don’t focus on making money; focus on protecting what you have.” – Paul Tudor Jones
“To be a good trader, you need to trade with your eyes open, recognise real trends and turns, and not waste time or energy on regrets and wishful thinking.” – Alexander Elder