Engaging in trading can be likened to a thrilling ride on a roller coaster. Despite the evident excitement and enjoyment, there may be instances when one feels anxious, uneasy or vulnerable. During such challenging periods, it is crucial to remain calm and steadfast instead of succumbing to panic or defeat. A practical approach to cope with such situations is to read inspiring quotes from experienced traders who can relate to your predicament and guide you towards triumph.
Presented below are 25 inspiring quotes that can serve as a source of motivation, enabling you to maintain your focus and stay on the path to becoming a successful trader.
1. “The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder
Meaning: It is essential to remember that the primary focus should be on ensuring that the trade is successful. Money is merely a reward that comes as a consequence of a well-executed trade. If you concentrate solely on the reward, it can hinder your ability to make sound judgments.
2. “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
Meaning: Even the most accomplished traders experience losses. Perfection is not a realistic expectation in trading. Instead, it is vital to strive for a higher percentage of successful trades than unsuccessful ones to achieve success in trading.
3. “Novice Traders trade 5 to 10 times too big. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on.” – Bruce Kovner
Meaning: It is generally advisable not to risk more than one or two percent of your trading account on a single trade when you are new to trading. For instance, if your trading account balance is $3,000, you should not trade more than $30.
4. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
Meaning: In trading, taking risks is often necessary to achieve profits. Without taking risks in your trades, it may be difficult to sustain a successful career as a trader.
5. “If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” – Bill Lipschutz
Meaning: Expert traders understand that exercising patience is crucial to executing profitable trades. It is advisable to avoid frequent trading and over-trading.
6. “In trading/investing, it’s not about how much you make but rather how much you don’t lose.” – Bernard Baruch
Meaning: Prior to executing a trade, comprehending your risk-reward ratio is crucial. In trading, managing risks appropriately holds more significance than generating profits.
7. “There is a time to go long, a time to go short and a time to go fishing.” – Jesse Livermore
Meaning: Here’s another inspirational quote that advocates trading less instead of more. Taking breaks from trading can often enhance your trading abilities.
8. “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Meaning: This quote perfectly emphasizes the significance of being an unemotional trader. It is important not to succumb to the pressure exerted by the market.
9. “We want to perceive ourselves as winners, but successful traders are always focusing on their losses.” – Peter Borish
Meaning: Accomplished traders prioritize preserving their existing assets. This is often more crucial than focusing on generating additional profits.
10. “In the short run, the market is a voting machine, but in the long run it is a weighing machine.” – Benjamin Graham
Meaning: In the short term, the market behaves akin to a popularity contest, but over time, the actual value of a market instrument becomes apparent.
11. “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.” – Tony Robbins
Meaning: These wise words apply not only to trading but also to life in general! To achieve success as a trader, it is vital to prioritize executing consistent trades over an extended period.
12. “You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody.” – Alexander Elder
Meaning: This could be one of the most inspiring trading quotes that reminds you of the freedom associated with being a trader!
13. “Short-term volatility is greatest at turning points and diminishes as a trend becomes established.” – George Soros
Meaning: These are exceptional words from a trading icon. Keep this quote in mind when devising a trading plan that utilizes trends.
14. “I get real, real concerned when I see trading strategies with too many rules (you should too).” – Larry Connors
Meaning: Similar to the previous quotes, this is an excellent trading maxim that emphasizes the importance of keeping trading strategies uncomplicated. The fewer rules there are, the more effective they tend to be.
15. “I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.” – Jim Rogers
Meaning: In trading, patience is an invaluable attribute. It’s important to recall that you should only act when the timing is optimal!
16. “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” – Martin Schwartz
Meaning: To evade losses, comprehending and acknowledging them is crucial. However, it’s even more critical to mentally embrace them.
17. “The stock market is filled with individuals who know the price of everything, but the value of nothing.” – Phillip Fisher
Meaning: In trading, the worth an instrument provides is more significant than its price.
18. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen
Meaning: It’s an excellent point that highlights the limitation of a savings account in generating wealth. Trading is a much more efficient approach to building riches.
19. “Losses are necessary, as long as they are associated with a technique to help you learn from them” – David Sikhosana
Meaning: In essence, losses only become negative when you don’t learn from them. By analyzing and understanding your losses, you can avoid repeating the same mistakes in the future.
20. “Every day I assume every position I have is wrong.” – Paul Tudor Jones
Meaning: This quote emphasizes the significance of being mentally prepared for the possibility of being wrong, which is crucial for success in trading.
21. “An investment in knowledge pays the best interest.” – Benjamin Franklin
Meaning: This insightful trading quote is among the smartest. The more knowledge you have about the instruments you trade, the more likely you are to make informed trades that yield better results.
22. “Do not be embarrassed by your failures, learn from them and start again.” – Richard Branson
Meaning: Although Richard Branson is not a trader, his words carry a lot of truth. It’s important to learn from your mistakes and keep moving forward, whether you’re a trader or not.
23. “Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota
Meaning: Experiencing a loss in trading is not the ultimate failure. In fact, if you take away a valuable lesson from it, then you still gained something from the experience.
24. “Are you willing to lose money on a trade? If not, then don’t take it. You can only win if you’re not afraid to lose. And you can only do that if you truly accept the risks in front of you.” – Sami Abusaad
Meaning: This is a great trading quote that emphasizes the significance of comprehending risks in achieving success.
25. “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
Meaning: While buying and selling may seem like the essence of trading, it’s important to remember that having the right mindset and risk management skills are just as crucial in avoiding potential pitfalls.