Trading Quotes

• 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

  Simple, Risk, Important

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• The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading.

  Victor Sperandeo

  Success, Money, Emotional

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• Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.

  Alexander Elder

  Space, Focus, Psychology

  Alexander Elder (2002). “Come Into My Trading Room: A Complete Guide to Trading”, p.46, John Wiley & Sons

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• Much of our trading comes down to a battle between our patience and our impulses.

  Steve Burns

  Battle, Impulse

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• Trading is a waiting game. You sit, you wait, and you make a lot of money all at once. Profits come in bunches. The trick when going sideways between home runs is not to lose too much in between.

  Michael Covel

  Running, Home, Games

  Michael Covel (2011). “Trend Commandments: Trading for Exceptional Returns”, p.81, FT Press

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• Being a successful trader also takes courage: the courage to try, the courage to fail, the courage to succeed, and the courage to keep on going when the going gets tough.

  Michael Marcus

  Success, Courage, Failure

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• The markets are unforgiving, and emotional trading always results in losses.

  Alexander Elder

  Loss, Emotional, Results

  Alexander Elder (2014). “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management”, p.16, John Wiley & Sons

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• 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

  Cutting, Loss, Three

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• He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.

  Jesse Lauriston Livermore

  Reading, Tape, Investing

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• Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.

  Alexander Elder

  Fall, Psychology, Together

  Alexander Elder (1993). “Trading for a Living: Psychology, Trading Tactics, Money Management”, p.17, John Wiley & Sons

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• I have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet.

  Larry Hite

  Winning, Two, Chips

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• There is only one side to the stock market; and it is not the bull side or the bear side, but the right side

  Jesse Lauriston Livermore

  Investing, Bulls, Sides

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• Risk comes from not knowing what you're doing.

  Warren Buffett

  Life, Business, War

  "The Three Essential Warren Buffett Quotes To Live By" by James Berman, www.forbes.com. April 20, 2014.

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• 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

  Cutting, Loss, Emotional

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• The average man doesn't wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think.

  Jesse Lauriston Livermore

  Men, Thinking, Average

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• The goal of a successful trader is to make the best trades. Money is secondary.

  Alexander Elder

  Success, Money, Goal

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• Trading gives you an incredibly intense feeling of what life is all about.

  Paul Tudor Jones

  Giving, Feelings, Life Is

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• First of all, most traders don't have a winning strategy. Second, even among those traders who do, many don't follow their strategy. Trading puts pressure on weaker human traits and seems to seek out each individual's Achilles' heel.

  Gil Blake

  Winning, Pressure, Firsts

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• Losers bring money into the market which is necessary for the prosperity of the trading industry.

  Alexander Elder

  Loser, Prosperity, Industry

  Alexander Elder (2014). “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management”, p.5, John Wiley & Sons

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• The way I understand the rules on trading on inside information, it's very vague.

  Steven A. Cohen

  Information, Way, Vague

  "To Catch a Trader". "Frontline", www.pbs.org. January 7, 2014.

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• Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.

  Alexander Elder

  Business, Odds, Challenges

  Alexander Elder (2002). “Come Into My Trading Room: A Complete Guide to Trading”, p.12, John Wiley & Sons

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• The moral is that in trading it's important to examine the situation from as many angles as possible, because your initial impulses are probably going to be wrong. There is never any money to be made in the obvious conclusions.

  Jeff Yass

  Important, Moral, Made

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• I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up.

  Jesse Lauriston Livermore

  Men, People, Investing

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• I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

  Warren Buffett

  Money, Years, Greatest Wealth

  "The Big Lie Exposed: The Future is Not Predictable" by Jeff Schweitzer, www.huffingtonpost.com. February 2, 2009.

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• When the profits of trade happen to be greater than ordinary, over-trading becomes a general error both among great and small dealers.

  Adam Smith

  Errors, Ordinary, Profit

  Adam Smith (2010). “An Inquiry Into the Nature and Causes of the Wealth of Nations”, p.335, Cosimo, Inc.

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