Motivational trading quotes that will change your trading

Tips from experienced traders can help you focus on what truly matters, set priorities effectively, and motivate you to analyse and acquire the knowledge needed for successful trading. In this article, we've curated some of the best insights. These trading motivational quotes address crucial topics, such as trading psychology, technical analysis, discipline, mechanisms, risk analysis, and more.

Trading psychology quotes

The right psychological mindset plays a crucial role in a trader's success. Here are some trading quotes to help you prepare for risks, potential losses, and the uncertainties of the market.

'Don't worry about what the markets are going to do, worry about what you are going to do in response to the markets.'

Michael Carr

'Trading doesn't just reveal your character; it also builds it if you stay in the game long enough.'

Yvan Byeajee

'Confidence is not 'I will profit on this trade. Confidence is 'I will be fine if I don't profit from this trade.'

Yvan Byeajee

'Trading is very competitive, and you have to be able to handle getting your butt kicked.'

Paul Tudor Jones

'Hope is [a] bogus emotion that only costs you money.'

Jim Cramer

'Remember, the best traders think in a number of unique ways. They have acquired a mental structure that allows them to trade without fear and, at the same time, keeps them from becoming reckless and committing fear-based errors.'

Mark Douglas

'The consistency you seek is in your mind, not in the markets.'

Mark Douglas

'When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.'

Mark Douglas

'Five fundamental truths:

1. Anything can happen.
2. You don't need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.'

Mark Douglas

'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

'I find that the percentage of successful traders is higher among women. They tend to be less arrogant, and arrogance is a deadly sin in trading.'

Alexander Elder

'If your goal is to trade like a professional and be a consistent winner, then you must start from the premise that the solutions are in your mind and not in the market.'

Mark Douglas

'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

'To be a successful trader you need to trade without fear. When you use fear as a resource to limit yourself, you will create the very conditions you are trying to avoid. Or to say this in another way, you will experience your fears.'

Van K. Tharp

Quotes about trading system

Here are some quotes highlighting the key aspects of a trading system.

'Never, ever argue with your trading system.'

Michael Covel

'Do more of what works and less of what doesn't.'

Steve Clark

'Do not anticipate and move without market confirmation — being a little late in your trade is your insurance that you are right or wrong.'

Jesse Livermore

'Most traders take a good system and destroy it by trying to make it into a perfect system.'

Robert Prechter

'It was really later on when I decided that the reason there are so many technical indicators out there is because none of them work very well.'

Chuck Hayes

'A trading system is an agreement you make between yourself and the markets.'

Ed Seykota

'I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.'

Paul Tudor Jones

'Don't worry about what the markets are going to do, worry about what you are going to do in response to the markets.'

Michael Carr

'The stock market is a device to transfer money from the impatient to the patient.'

Warren Buffet

'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

'Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.'

George Soros

'Trading systems don't eliminate whipsaws. They just include them as part of the process.'

Ed Seykota

Technical analysis quotes

Experienced traders emphasise the significance of technical analysis for both beginners and seasoned professionals.

'If you ignore the primary trend, you are most likely going to lose money. The only time you should be buying stocks, index funds, or mutual funds is when the primary trend is advancing. But even then, you want to get in on the early stages of the advance. You don't want to be the last one to the party.'

Fred McAllen

'You don't make money by trading, you make it by sitting. It takes patience to wait for the trade to develop, and for the opportunity to present itself. Let the market come to you, instead of chasing the market. Chart patterns are very accurate. They have proven their accuracy and predictability time and time again, but you have to wait for them to develop.'

Fred McAllen

'Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I'm getting out before I get in. The position size on a trade is determined by the stop, and the stop is determined on a technical basis.'

Bruce Kovner

'I believe in analysis and not forecasting.'

Nicholas Darvas

'For those who understand the power of long-term trends, a basic moving average crossover system could be the golden gateway leading to consistent long-term trading profits.'

Donald Pendergast

Quotes about risk management

When discussing trading, it's impossible to overlook the importance of risk management and a rational approach to it. Here we've gathered some trading quotes on this subject.

'Risk management means protecting oneself from the adverse and unexpected decisions others may make and, in the process, making better decisions than they do.'

Peter Bernstein

'I am very focused on understanding the downside. And I have a pretty good track record, but it's not perfect. You can't play at this level without some pretty big highs and lows.'

Sam Zell

'When you genuinely accept the risks, you will be at peace with any outcome.'

Mark Douglas

'Don't focus on making money, focus on protecting what you have.'

Paul Tudor Jones

'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.'

Jaymin Shah

'Amateurs focus on money, professionals focus on risk management.'

William Eckhardt

'By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.'

Larry Hite

'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half.'

Bruce Kovner

'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

Quotes about daily discipline

Professional traders are distinguished not only by their skills and knowledge but also by unwavering discipline, where small daily actions align with larger goals. Below are the quotes about discipline in trading.

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

Alexander Elder

'The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless.'

Jack D. Schwager

'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.'

Jack D. Schwager

'The best traders have trading habits, daily routines they repeat day after day.'

Henrique M. Simões

'Money is made by sitting, not trading.'

Jesse Livermore

'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.'

Charlie Munger

'Traders need a daily routine that they love. If you don't love it, you're not gonna do it.'

Scott Redler

Funny trading quotes

Experienced traders, of course, can approach trading with a touch of irony and humour. Below are some funny trading quotes.

'There is a time to go long, a time to go short and a time to go fishing.'

Jesse Livermore

'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

'Luck is what happens when preparation meets opportunity.'

Lucius Annaeus Seneca