5 Trading Psychology Quotes

“To succeed as a trader, it is absolutely necessary to have an edge.  You can’t win without an edge, even with the world’s greatest discipline and money management skills.  If you don’t have an edge, all that money management and discipline will do for you is to guarantee that you will gradually bleed to death.  Incidentally, if you don’t know what your edge is, you don’t have one.” Jack Schwager 

“Environmental distractions and boredom cause a lack of focus – All of us have limits to our attention span and these are easily taxed during quiet times in the market.”  Brett Steenbarger

“If there is such a thing as a secret to the nature of trading, this is it: At the very core of one’s ability 1) to trade without fear or overconfidence, 2) perceive what the market is offering from its perspective, 3) stay completely focused in the ‘now moment opportunity flow,’ and 4) spontaneously enter the ‘zone,’ it is a strong virtually unshakeable belief in an uncertain outcome with an edge in your favor.” Mark Douglas

“The ‘making money’ part of trading is simply a by-product (end result) of a focused and precise utilization of our trained psychological and mechanical resources to successfully find and manage trades. Under the most intense circumstances, the best results will be produced only with a deep concentration and focus on the task at hand.” Chris Lori

“The ability to subordinate an impulse to a value is the essence of the proactive person.  Reactive people are driven by feelings, by circumstances, by conditions, by their environment.  Proactive people are driven by values – carefully thought about, selected and internalized values.” Stephen Covey 

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