- “The goal of a successful trader is to make the best trades. Money is secondary.”
Meaning: A quote to remind you to focus on getting the trade to work first! Money is the reward, an outcome of a successful trade. Thinking solely about the reward will cloud your judgment.
- “Do more of what works and less of what doesn’t.”
Meaning: A great quote to remind yourself to keep track of what is working in your trading strategy and what isn’t. If something isn’t working for you, cut it. Remember to keep a trading journal!
- “Never, ever argue with your trading system”
Meaning: It will never get you anywhere! And let’s face it, it’s probably not the systems’ fault. If it’s really doing you no good, change it
- “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.”
Meaning: The best traders are never right all the time, they make losses too. Focus on getting more trades right than wrong and you’ll be considered successful.
- “All the math you need in the stock market you get in the fourth grade.”
Meaning: A trading quote to remind you to keep your trading strategy simple. The more complex your trading strategy is, the more things can go wrong.
- “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.”
Meaning: As a rule, when you first start trading, never risk more than one or two percent of your trading account on a trade. For example, if you have $3,000 in your account, never trade more than $30.
- “In investing, what is comfortable is rarely profitable.”
Meaning: You need to take risks in order to make a profit. If there’s no risk in the trades you’re making, you cannot expect to really make a living as a trader.
- “There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.”
Meaning: An inspirational trading quote to remind you to stop looking for shortcuts! In reality, no one really knows how to crack the market and be successful all the time.
- “If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.”
Meaning: The best traders know that patience is the key to making successful trades. Don’t trade too often and avoid overtrading.
- “In trading/investing, it’s not about how much you make but rather how much you don’t lose.” – Bernard Baruch
Meaning: Before you make a trade, you need to understand your risk-reward ratio. Proper risk management is more important than making money.
- “Every trader has strengths and weakness. Some are good holders of winners but may hold their losers a little too long. Others may cut their winners a little short but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.”
Meaning: What works for you as a trader may not work for others. Every trader has their own trading style.
- “Time is your friend; impulse is your enemy.”
Meaning: Another motivational trading quote to remind you to be patient. Take your time and don’t give in to your impulses.
- “There is a time to go long, a time to go short and a time to go fishing.”
Meaning: Another inspirational trading quote about trading less rather than more. Having a break from trading can often make you a better trader.
- “Do not anticipate and move without market confirmation – being a little late in your trade is your insurance that you are right or wrong.”
Meaning: A great tip for traders who use analysis. You need to wait and confirm that a trend is emerging before making a trade. That way you can be sure your trading strategy will work.
- “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.”
Meaning: The perfect trading quote for someone who forgets that trading is not like a regular nine to five job. You won’t make money every day and, if you’re successful, you won’t need to.
- “Money is made by sitting, not trading.”
Meaning: Sit and wait for the right opportunity. Awesome trading quote about patience.
- “I learned early that there is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I’ve never forgotten that.”
Meaning: It’s a well-known fact that markets repeat themselves! If a situation appeared before, it will certainly reappear.
- “Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.”
Meaning: It doesn’t matter how good your market analysis is, it can still be wrong. You need to remember that it is not an exact science.
- “If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.”
Meaning: The perfect trading quote for highlighting the importance of being a detached trader. Don’t give in to the pressure the market puts on you.
- “Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions.”
Meaning: Stop watching the market so closely. You’ll only end up trading too much, which is risky and/or close good positions too early. Either way, you’ll lose money.
- “We want to perceive ourselves as winners, but successful traders are always focusing on their losses.”
Meaning: Successful traders think more about protecting what they already have. That is always more important than making more money.
- “Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.” – Larry Hite
Meaning: A superb trading quote about understanding risk. If you don’t respect risk, you will fail as a trader.
- “Frankly, I don’t see markets; I see risks, rewards, and money.”
Meaning: Another one for keeping things simple! Remove everything else from your mind and focus on the key elements of trading.
- “I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading. I don’t think any one book will do it for you.”
Meaning: Good traders never stop learning. Even when they become pros at trading, they are still learning.
- “In the short run, the market is a voting machine, but in the long run it is a weighing machine.” Meaning: The market acts like a popularity contest in the short-term, but in the long-term, we see the real value behind a market instrument.
- “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.”
Meaning: Smart words for trading and for life! In order to be considered a successful trader, you need to focus on making consistent trades over time.
- “Bulls make money, bears make money, and pigs get slaughtered.”
Meaning: You can make money when the market is going up and down, but you won’t make money if you’re greedy.
- “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”
Meaning: Trading is not the same as gambling. It’s not about having fun, it’s about working out the right time to make your move.
- “The fundamental law of investing is the uncertainty of the future.” Meaning: You can never be sure of what will happen. It doesn’t matter how good your research is, you will never be completely right.
- “You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody.”
Meaning: Perhaps one of the most inspirational trading quotes to remind you how liberating it is to be a trader!
- “You have to identify your weaknesses and work to change. Keep a trading diary – write down your reasons for entering and exiting every trade. Look for repetitive patterns of success and failure.”
Meaning: This motivational trading quote is may be one of the most actionable. Take heed and find out what works for you.
- “Sheer will and determination is no substitute for something that actually works.”
Meaning: Motivation is not enough to become a successful trader. You need knowledge, specifically knowledge of what works for you.
- “Short-term volatility is greatest at turning points and diminishes as a trend becomes established.”
Meaning: Great words from a trading legend. Remember this quote when putting together a trading strategy that utilizes trends.
- “Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.”
Meaning: Although we can never be 100% sure what direction the markets will move, some things can be estimated and some things can’t.
- “It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong.”
Meaning: Another excellent quote for risk-reward ratios. And another example of a top trader keeping losses in mind at all times.
- “In trading, the impossible happens about twice a year.”
Meaning: A helpful reminder that every so often the unbelievable will happen. Keep your eyes peeled for those moments.
- “The core problem, however, is the need to fit markets into a style of trading rather than finding ways to trade that fit with market behavior.”
Meaning: You can’t fit the market around your strategy, you can only fit your strategy around the market.
- “Never invest in any idea you can’t illustrate with a crayon.”
Meaning: A hilarious motivational quote that reminds us to keep trading simple. If something is too complicated, it means there are more chances of it going wrong.
- “I get real, real concerned when I see trading strategies with too many rules (you should too).”
Meaning: Just like the above, this is a great trading quote about keeping trading strategies simple. The fewer the rules there are the better.
- “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.”
Meaning: Patience is one of the most valued skills in trading. You have to remember to only strike when the time is right!
- “I believe in analysis and not forecasting.”
Meaning: A good quote for keeping trading scientific and in the moment. Try to keep forecasting to a minimum, if possible.
- “Trading doesn’t just reveal your character, it also builds it if you stay in the game long enough
Meaning: Attaining the skills to become a great trader is a lifelong journey. To be successful requires you to make changes in your life.
- “Focus, patience, wise discernment, non-attachment – the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.”
Meaning: Four essential skills any successful trader needs. They won’t just help you trade better, they can also help you lead a better life.
- “Confidence is not ‘I will profit on this trade.’ Confidence is ‘I will be fine if I don’t profit from this trade.”
Meaning: Excellent advice on trader psychology. You need to have the right approach to winning and losing trades.
- “You will never find fulfilment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.”
Meaning: A great trading quote to remind you to appreciate and protect what you already have. Understanding risk means appreciating what you already have.
- “Beware of trading quotes.”
Meaning: A hilarious quote to remind you that inspirational trading quotes are not enough to be a successful trader!
- “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.”
Meaning: In order to avoid losses, you must first understand and respect them. But more importantly, you need to mentally accept them.
- “A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.”
Meaning: Smart traders trade less not more! Don’t let yourself get caught up in the market!
- “When I became a winner, I said, ‘I figured it out, but if I’m wrong, I’m getting the hell out, because I want to save my money and go on to the next trade.”
Meaning: Another important reminder to look after what you already have.
- “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.”
Meaning: Similar to the above, this inspirational trading quote is a reminder that you need to take a break from the markets every so often to avoid overtrading and losing what you have. Reward yourself!
- “I always laugh at people who say, ‘I’ve never met a rich technician.’ I love that! It’s such an arrogant, nonsensical response. I used fundamentals for nine years and got rich as a technician.”
Meaning: A good quote to remind yourself of the importance of technical analysis.
- “When I get hurt in the market, I get the hell out. It doesn’t matter at all where the market is trading. I just get out, because I believe that once you’re hurt in the market, your decisions are going to be far less objective than they are when you’re doing well… If you stick around when the market is severely against you, sooner or later they are going to carry you out.”
Meaning: Trading on emotions is one of the riskiest things you can do. If you think you’re acting on emotion rather than the state of the market, you need a break.
- “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.”
Meaning: A great trading strategy to reduce losses. Every time you lose a trade, reduce the amount you are trading.
- “The stock market is filled with individuals who know the price of everything, but the value of nothing.”
Meaning: In trading, the price of an instrument isn’t as important as the value it gives you.
- “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”
Meaning: A great point illustrating that a saving account will never make you rich. Trading is a much more effective way to create wealth.
- “Losses are necessary, as long as they are associated with a technique to help you learn from them”
Meaning: Essentially losses are only a bad thing when you fail to learn from them. By learning from your losses, you are less likely to repeat them.
- “Every day I assume every position I have is wrong.”
Meaning: It may not sound that inspirational, but this quote speaks volumes about the importance of mentally preparing for being wrong.
- “The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”
Meaning: As that old saying goes ‘knowledge is power’. With trading that undeniably true.
- “Trading is very competitive and you have to be able to handle getting your butt kicked.”
Meaning: Don’t give up just because your trading plan fell apart. You need to learn from that experience and keep going!
- “That cotton trade was almost the deal breaker for me. It was at that point that I said, ‘Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?”
Meaning: This trading quote highlights how important it is to diversify your portfolio. Never risk anything on just one trade.
- “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have”
Meaning: Another fine quote from Paul Tudor Jones on the importance of protecting what you have.
- “An investment in knowledge pays the best interest.”
Meaning: This inspirational trading quote has to be one of the smartest. The more you know about what you trading, the more likely you are to make an informed trade, one that gives better results.
- “Do not be embarrassed by your failures, learn from them and start again.”
Meaning: While Richard Branson might not be a trader, his words speak a lot of truth. Learn from your mistakes and keep going.
- “He who knows when he can fight and when he cannot, will be victorious.”
Meaning: Another quote from outside the trading world. Essentially, by knowing when to trade and when not to trade, you will be successful.
- “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.”
Meaning: Losing a trade is not the end of the world. If you learned something from it, you still got something out of it.
- “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.”
Meaning: Not all of your trades will be successful. Therefore, you can only become a good trader by learning how to minimize your losses.
- “The trend is your friend until the end when it bends.”
Meaning: Wordplay on the famous phrase ‘the trend is your friend’. You need to remember that trends never last forever.
- “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.”
Meaning: A fine trading quote that once again illustrates the importance of understanding risks and how it relates to success.
- “If you personalise losses, you can’t trade.”
Meaning: Emotion has no place in the trading arena. If you want to trade, you need to remove it.
- “I know where I’m getting out before I get in.”
Meaning: A clever quote for entry and exit strategies. Before you start your strategy, you need to know where you’ll enter and exit.
- “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: Sure, when you break it down trading is all about buying and selling, but without the right mindset and risk management skills, many things can go wrong.
- “Stocks are bought not in fear but in hope. They are typically sold out of fear.”
Meaning: An excellent quote about trader psychology. Many of the actions undertaken by novice traders and motivated by emotions.
- “What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.”
Meaning: The market will often beat your expectations, but that doesn’t mean you should count on that happening!
- “Letting losses run is the most serious mistake made by most investors.”
Meaning: Once again, another inspirational trading quote highlighting how important reducing losses is to be profitable.
- “The market is a device for transferring money from the impatient to the patient.”
Meaning: The impatient will always lose out to the patient. Patience is one of the most valued skills you can have as a trader.
- “You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.”
Meaning: Intelligence is not always the most important thing about trading. There are a wealth of other factors at play.
- “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
Meaning: Another fine quote from Warren Buffet about emotions and making money trading.
- “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Meaning: All it takes is one little mistake to lose everything. That’s why you need to be cautious when trading and understand the risks.
- “Look at market fluctuations as your friend rather than your enemy.”
Meaning: Market fluctuations present you with opportunities to enter and exit the market, don’t be afraid of them.
- “Profit from folly, rather than participate in it.”
Meaning: Make sure the only mistakes you see are the mistakes of others, not your own. When others are making a mistake, it’s a chance for you to profit.
- “Markets can remain irrational longer than you can remain solvent.”
Meaning: An important reminder that market volatility can swallow your whole trading account if you’re not careful.
- “Accepting losses is the most important single investment device to ensure the safety of capital.”
Meaning: If you fail to accept your losses and start chasing them instead, you’re putting all of your capital a risk!
- “The hard part is discipline, patience and judgment.”
Meaning: Trading is in a sense easy, but acquiring the skills to trade well can be difficult.
- “In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.”
Meaning: Your analysis will never be completely correct and it is important to recognize that.
- “I always define my risk, and I don’t have to worry about it.”
Meaning: The first step every trader should undertake before making a trade is to define their risk!
- “Hope is [a] bogus emotion that only costs you money.”
Meaning: Never base your trades on hope. Instead, they should be well-informed based on the information and analysis you have at hand.
- “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 cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.”
Meaning: Another fine trading quote about cutting losses. If you don’t, you’ll never be consistently successful.
- “All you need is one pattern to make a living.”
Meaning: The simplest patterns often reap the best rewards. If you can learn to use them you can make a living from trading.
- “Sometimes the best trade is no trade.”
Meaning: A well-known trading quote. You don’t need to trade all the time to be successful.
- “Patterns don’t work 100% of the time. But they are still critical because they help you define your risk. If you ignore patterns and focus on hunches, feelings, and hot tips, just forget about achieving consistency.”
Meaning: If you want to be a consistently successful trader, you need to work with patterns!
- “It’s ok to be wrong; it’s unforgivable to stay wrong.”
Meaning: A clever quote to remind you to learn from your mistakes.
- “The four most dangerous words in investing are: This time it’s different.”
Meaning: It’s only ever different if you learned from your mistakes last time!
- “There is a huge difference between a good trade and good trading.”
Meaning: Anyone can make a good trade, but not everyone can be a consistently good trader.
- “Buy things that are going up. Sell things that are going down. And when they stop, get out!”
Meaning: Buying when low and selling when high is not enough. You also need to know the direction the instrument will move in.
- “Don’t blindly follow someone, follow [the] market and try to hear what it is telling you.”
Meaning: Never follow people’s advice without doing your own research. Your own research is always more valuable.
- “You never know what kind of setup [the] market will present to you, your objective should be to find [an] opportunity where risk-reward ratio is best.”
Meaning: The market is never the same, it always changes. Every time you trade you need to reevaluate the situation looking for a favorable risk-reward ratio.
- “What’s the difference between a pro and an amateur? Professionals look for what’s wrong with a setup. Amateurs only look for what’s right.”
Meaning: When you get to the point of being a professional trader, you look more for errors than anything else. Amateurs often fail to do that.
- “A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business
Meaning: A great trading quote that sums up what a great trader needs. Most importantly highlighting learning from mistakes and having a plan.
- “As much as possible you don’t want to be well paid merely for taking big risks. Anyone can manage that. You want to be well-paid because you did your homework.”
Meaning: Being risky doesn’t pay off. What really pays off is researching what you’re trading and setting yourself goals.
- “Traders need a daily routine that they love. If you don’t love it, you’re not going to do it.”
Meaning: A truly inspiring trading quote to remind you that you need a trading style that fits in