Inspirational trading quotes have more importance than just as catchy instagram posts – these quotes come from some of the biggest names & successes in the trading/investing work and therefore present some important knowledge & insights from market winners. Here I’m covering 5 of the top trading quotes that I believe can play a role in revolutionising your trading and improving your long term results.
These posts will:
- Boost your confidence as a trader – particularly if you’re not yet consistently profitable
- Teach you new principles to trade & live by for a better experience in the markets & life
- Help you to avoid making silly mistakes – under advice from long-term market winners
Quote #1 – Learn To Take Losses
Before you can truly excel as a trader you must first understand that losses are an entirely normal part of the process and that these losses must be accepted in a calm and controlled manner. We don’t need to cut out all losses what we instead need to do is learn to maintain a rational mindset and manage them successfully using risk vs reward. Martin Schwartz’ quote here tells the story perfectly.
Quote #2: I Assume Every Position I Have Is Wrong
A quote from the legendary trader Paul Tudor Jones that provides some insight into his mindset for trading & how he manages to remain rational when he encounters loss. By assuming that every position you have is wrong from the start you soften the blow of every loss significantly and build on your emotional control. This isn’t to say you shouldn’t strive for excellence in your trading BUT approach every trade with a neutral mind.
Quote #3: Pro’s Look For What’s Wrong With a Setup
It’s easy to become biased when you see a setup that you like the look of. When carrying out analysis many traders tend to focus on what is right with the setup and put little attention into what could be wrong. To excel it’s important to filter your trades well by identifying counter-confluences and possibilities that could send the market against you, by identifying both sides of the story you may just notice something that saves you from a loss. Be Highly Selective.
Quote #4: Analysis NOT Forecasting
This quote resonates strongly with me – I am very often saying that as traders we should always be looking to REACT not predict. Next time you’re carrying out your analysis look at the market from multiple perspectives and identify all possibilities. Don’t try and forecast the future just create logical reasonable analysis and then use this analysis to react to whatever movements the market provides.
Quote #5: You Can Be Free
This quote is a real push of motivation for aspiring traders who are putting in the work & having a hard time reaching consistent profitability. For everyone travelling the difficult path toward success first of all congratulations on being so persistent, the road to winning is not an easy one by any means. KEEP ON GOING! Your time will surely come with commitment.
What Have We Learned From These Quotes?
These quotes teach us an insight into how long-term successful traders view and react to the markets. The big takeaways from these quotes are: accept losses & learn how to react to them, analyse logically and react to market movements rather than trying to predict, and be selective with the positions you take by trying to pick out counter-confluences before pulling the trigger on your trades.
I hope you have learned a thing or two from these 5 revolutionary quotes, bring these concepts into your trading & see what positive results they provide!