Prop Firm Hub

"Just waiting for that friendly prop firm to pop up with 1Million and the only challenge is if you can last longer than 3 months with a +1R and max DD of 12%...."

Had a rethink, what would be a game changer for most of us consistent traders would be a 100 day challenge to make 13% with the usual drawdown rules.

No "phases", just straight trading... ?

There are a few Prop Firm's around offering a straight up $1Million challenge but I'm not so sure about how friendly they are but certainly the price to play is right up there!

I think for sure some upcoming Prop Firm will consider offering such a model to traders but without it being a challenge that would be interesting.

Kind of like putting on a trader to trade a large sum of money without any knowledge of their trading habits.

Clearly the price of admission would need to be very steep.

Many traders might think that FTMO and MFF have the best models out there and whilst for the most part this might be true there are still many model combinations that could be used to great effect for both the Prop Firm and the trader.

Your post presents such an example.

In fact a Prop Firm could offer several appropriate models including the big $1Million challenge as the dangling carrot for keen traders.

Definitely a longer term trading period would be a big plus but certainly doesn't guarantee a successful completion.

From the Prop Firm's perspective clearly it is in their best interests to churn participation fees from challenge takers.

Finding a happy win-win situation might be interesting.

Masterrmind .............

If you want to build your edge you can read those lists of trading quotes below, because there is some truth in each quote. It can have some value.

Forex Motivational Quotes
1. "I'm only rich because I know when I'm wrong. I basically have survived by recognizing my mistakes."
-George Soros.
2. "It was clear to me that other people could trade for a living, and if it was possible for other people to do it, then I could persevere long enough to figure it out."
-Rob Booker.
3. "The biggest risk is not taking a risk. In a world that's changing really quickly, the only strategy that is guaranteed to fail is not taking risks."
–Mark Zuckerberg.
4. "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.
5. "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.
6. "I believe in analysis and not forecasting."
-Nicolas Darvas, 'How I Made $2,000,000 in the Stock Market', 1986.
7. "The purpose of trading is not being right, the purpose is to make money, and I think that's my number-one rule. Don't get hung up on your current positions."
-Dana Allen.
8. "Learn to take losses. The most important thing in making money is not letting your losses get out of hand."
-Marty Schwartz.
9. "Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend."
-Richard Dennis.
10. "The fundamental law of investing is the uncertainty of the future."
-Peter Bernstein.
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Trading quotes #1 — Paul Tudor Jones
“Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt.”
“If you have a losing position that is making you uncomfortable, the solution is very simple: Get out…”
“Don’t focus on making money; focus on protecting what you have.”
“The most important rule of trading is to play great defense, not great offense.”
The legendary trader, Paul Tudor Jones, made these quotes on separate occasions, but apparently, he’s trying to pass the same message: protecting your trading capital is key to achieving any success in trading.
You may think that trading is all about making money. Yes, the ultimate goal is to make money, but you can’t make a dime if you lose your capital. So, the primary goal is to protect your capital.
And how do you do that? Always be in control: trade a position size that won’t affect your emotions. When in a losing position that’s making you uncomfortable, get out — ideally, you should use a stop-loss order that would get you out before it gets uncomfortable.
Trading quotes #2 — Ray Dalio
“What is most important isn’t knowing the future — it is knowing how to react appropriately to the information available at each point in time.”
“The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. They assume that something that was a good investment in the recent past is still a good investment.”
Many traders think that it’s only when they know what would happen in the future that they can make money. So, they make many assumptions about the future, including the belief that what is happening at the moment would persist forever — the trend would continue or the range market would persist. They trade as if the present condition is the default condition of the market.
Ray Dalio reminds us of one fundamental truth about trading: we can’t predict the future with certainty, and interestingly, we don’t need to. What matters is your ability to use the information available at every moment to make the most appropriate decision.
Trading quotes #3 — Bill Lipschutz
“If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money. I don’t think you can consistently be a winning trader if you’re banking on being right more than 50 percent of the time. You have to figure out how to make money being right only 20 to 30 percent of the time.”
There are two ways to look at what Bill Lipschutz is saying here. The first one is that depending on the timeframe you are trading, reliable trade setups that are worth the risk don’t form that frequently. If you are a swing trader, for example, you may only get two or three good setups per week, depending on the number of markets you are monitoring. So, for the most part, you won’t be making any trade — until a good setup appears.
Another way to look at the quote is that you don’t need to be right up to 50% of the time to make money if you employ a good reward/risk ratio. If you have a strategy that offers you a 4:1 reward/risk ratio, you can be profitable even if you win only 30% of the time.
Trading quotes #4 — Brett Steenbarger
“We become what we consistently do.” “Routine is necessary for efficiency; breaking routine is necessary for adaptation.”
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.”
Truly, to master anything in life, you have to do that thing consistently over a long time. At a time, it becomes a routine, and that consistency helps you to become efficient in it. However, in trading, while the market conditions change from time to time, so to be good at trading, you should learn when to break the routine so you can adapt to the new condition. This is simply what the renowned trading psychologist, is trying to say.
“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.”
Brett Steenbarger identified the problem of not adapting to the changing market conditions as trying to fit the markets into our trading styles, instead of trading in a way that fits the market condition at that moment. For example, some crypto traders, in the latter part of the second quarter of 2021, continued buying dips even when it’s obvious that cryptocurrencies have entered a bear market.
Trading quotes #5 — Bruce Kovner
“I know where I’m getting out before I get in. Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. The position size on a trade is determined by the stop, and the stop is determined on a technical basis.”
First, it helps to have an exit order in place so you can get out without your emotions getting the better of you. It is difficult to make a logical decision in the middle of trade; emotions would always come in.
However, Mr. Bruce Kovner is saying something interesting here regarding stop loss and position size. Many traders approach this the other way around: they choose a position size to trade and then calculate the size of stop loss that would allow them to risk a particular amount of dollars they plan to commit in the trade.
But that is wrong, as it forces you to use far more leverage than is good for your account size and trading experience. Mr. Bruce is telling you to place your stops at a point that, if reached, will reasonably indicate that the trade is wrong — not at a point determined primarily by the maximum dollar amount you are willing to lose.
Trading quotes #6 — Van K. Tharp
“When you understand what’s involved in winning, as do professional gamblers, you’ll tend to bet more during a winning streak and less during a losing streak. However, the average person does exactly the opposite: he or she bets more after a series of losses and less after a series of wins.”
Of course, each trade is different, and wins and losses are randomly distributed. But like any randomly distributed variable, wins and losses can come in streaks. In a winning streak, you may be more likely to win the next trade, while in a losing streak, you may be more likely to lose the next trade.
Van K. Tharp understands this strategy, which is also used by professional gamblers. They bet more in a winning streak since there’s a tendency to win the next bet/trade in that state. On the other hand, during a losing streak, they reduce their bet size because there’s a tendency to lose the next trade. This approach can help you maximize the periods when you win and reduce risk during the losing period.
Trading quotes #7 — Rob Hanna
“No one can upset you unless you give them permission.”
You may be wondering how this simple statement relates to trading the financial markets. But then, the statement becomes clear when you realize that Rob Hanna is a renowned quant trader. In quant trading, mathematical models are used to analyze the market for opportunities and are implemented with the use of computer algorithms and artificial intelligence. So, there’s no room for human emotions in making trading decisions — quant traders don’t give the market permission to upset them.
But this is not just about quant trading or even the general automated trading ecosystem. If you are a discretionary trader, you can also apply this lesson in your trading. The primary way to do this is by having a trading plan that tells you what to do in any market situation. You can also write out the criteria of your trading strategy so you know exactly when to enter and exit a trade without second-guessing the market.
Trading quotes #8 — Ed Seykota
“The markets are the same now as they were five or ten years ago because they keep changing-just as they did then.”
It seems as if Ed Seykota and his quote contradict what we know about the market, but it is basically the truth. The market is still the same and behaves the same — it trends when it wants to and moves sideways when it wants to. If you know that the market is always there and behaving the same way, generating trading setups, you won’t have to chase after a missed trade or make other trading mistakes. Your primary goal would be to protect your capital so you can take the next setup that appears.
“Win or lose, everybody gets what they want from the market. Some people seem to like to lose, so they win by losing money.”
Truly, the market gives you what you deserve. If you risk too much, you lose a lot. But if you trade carefully and minimize your risks, you will be able to play enough hands for your edge to manifest.
Trading quotes #9 — Jack Schwager
“There are a million ways to make money in the markets. The irony is that they are all very difficult to find.”
Jack Schwager states the obvious here: there are arguably as many different trading strategies as there are many traders in the market. And for strategies with an edge in the market, when executed properly over a large number of trades, they will make money. The problem, as he pointed out in the second sentence, is taking time to create a trading strategy with an edge and being disciplined enough to implement it correctly. This brings us to another quote from him:
“Being wrong is acceptable, but staying wrong is totally unacceptable.”
Here, he is talking about being disciplined while trading. It’s normal to make a wrong trading decision. But once you notice that your decision is wrong, you correct it immediately instead of holding on to it.
Trading quotes #10 — Jesse Livermore
“To anticipate the market is to gamble. To be patient and act only when the market gives the signal is to speculate.”
Jesse’s message here is simple: in trading, you don’t try to predict what the market might do in the future; you simply trade the signals you see at the moment. If you are not seeing any signal, you wait until the market shows you one. He emphasizes patients again with this other quote:
“It was never my thinking that made the big money for me; it was my sitting.”
Truly, it is that period of waiting that the money is made. First, sitting it out and waiting for a profitable trade to ride its course till the end of the trend can determine how much you make from a trade. But more importantly, waiting for the right setup to appear saves you from several potentially losing trades.
“Instead of hoping, he must fear; instead of fear, he must hope. He must fear that his loss must develop into a much bigger loss and hope that his profit may become a big profit.”
Here, Jesse Livermore describes the type of emotions a trader must have in different situations. If a trade is going against you, especially if it has crossed the level you marked for your stop loss (hard stop is better), you should be afraid that the loss can get bigger, instead of hoping that the price might turn and go in your favor. On the other hand, when you are in a winning trade, instead of fearing that the trade may turn against you, you should hope that the profit becomes bigger.
Trading quotes #11 — Jim Rogers
“One of the best rules anybody can learn about investing is to do nothing, absolutely nothing unless there is something to do… 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 wait for a situation that is like the proverbial ‘Shooting fish in a barrel’…”
The truth is that many traders feel that they always have to be doing something in the market. They would make a big play that turned out huge profits and would say, “Boy, I’m killing it; I just tripled my money.” Then, they hop in the market again to do something else with that money. They just can’t sit there and wait for another signal to developing before going back into the market. Jim Rogers says that this overtrading often leads to a disaster.
Trading quotes #12 — Jim Simons
“Patterns of price movement are not random. However, they’re close enough to random so that getting some excess, some edge out of it, is not easy and not so obvious — thank God. God probably doesn’t care. Thank whoever.”
Often regarded as ‘the man who solved the market’, Jim Simons launched the quant revolution, using mathematical models to analyze and trade the markets. In this quote, he points out that in the apparent randomness of the price action, there are patterns that can be exploited to gain an edge in the market.
“We search through historical data looking for anomalous patterns that we would not expect to occur at random.”
To find a pattern that gives you an edge in the market, you need to search through the historical price action. It’s there you can find what has been working that can still work in the market. He emphasizes this in his other quote:
“Past performance is the best predictor of success.”
Truly, while past performance may not be indicative of future performance, it is the best predictor of success there is. So, it makes no sense to use a strategy without first backtesting it to know how well it performed in the past.
Trading quotes #13 — Larry Connors
“I get real, real concerned when I see trading strategies with too many rules (you should too).”
Of course, there are obvious reasons for Larry Connors‘s concerns. When there are too many rules, the trader can easily get confused and start trading erratically, making a lot of mistakes, such as jumping the guns (placing a trade when the setup has not been completed) and missing trading opportunities.
A trading strategy should be as simple as possible, with a few rules that are easy to execute. That way, you know what you are looking for and what to do at any point. As you know, it is not easy to make decisions in the heat of the moment when trading. So, the criteria for every action — entry, exit, moving stop loss, etc. — must be clear. If the rules are not clear, it becomes difficult to make trading decisions.
Trading quotes #14 — Larry Hite
“I have two basic rules about winning in trading as well as in life:
If you don’t bet, you can’t win
If you lose all your chips, you can’t bet”
Larry Hite‘s rules are simple but all-encompassing. They don’t just tell you what you shouldn’t do but also hints at the emotions that affect traders. If, out of fear of losing, you choose not to trade, you have definitely denied yourself the opportunity to win. Without participating in the game, you cannot win, so you have to conquer that fear that holds you back from pulling the trigger.
On the other hand, if, out of greed, you trade more than you can and end up losing all your capital, you won’t be able to trade again until you raise another capital. So, you have to protect your capital with all your might.
Trading quotes #15 — Larry Williams
“The most common bad habit I have seen in traders — good and bad ones — is the inability to react correctly to market action.”
This observation is very true, especially among new traders who are always trying to do what every other person is doing, without seeking to understand how the market works. Larry Williams captures that mentality in this statement:
“What you will be looking for is a day that closes above the prior day’s high and most likely ‘breaks’ out to the upside to close above a trading range. This is the twitching worm that causes the public to leap before they look.”
Whatever that instruction means is left to the trader’s interpretation — a new trader will definitely get confused. So, it pays to understand the market and your trading personality. With that, you can create a suitable trading strategy, rather than following another person’s instruction.
Trading quotes #16 — Linda Raschke
“Some of the best trades come when everyone gets very panicky. The crowd can often act very stupidly in the markets. You can picture price fluctuations around an equilibrium level as a rubber band being stretched — if it gets pulled too far, eventually it will snap back. As a short-term trader, I try to wait until the rubber band is stretched to its extreme point.”
Surely, there are different ways of trading the market; you don’t have to do what others are doing. For example, when a breakout trader is cheering for a good breakout signal, a contrarian may be taking the opposite direction and still make profits. What matters is understanding the market action relative to your style of trading. Being a short-term trader, Linda Raschke favors the mean-reversion approach.
Trading quotes #17 — Mark Douglas
“Anything can happen.”
After placing a trade, anything can happen — the market can go massively against you, go in your favor, or simply fluctuate around your entry point. You have to have a plan for whatever happens after you place the trade.
“You don’t need to know what is going to happen next in order to make money.”
This truth is quite interesting; you don’t need to predict whether any particular trade will go in your favor to make money with your strategy, provided it has a demonstrable edge in the market. Whether any particular trade is a winner or loser doesn’t matter that much.
“There’s a random distribution between wins and losses for any given set of variables that define an edge.”
No matter the strategy you use, some of your trades would be winners, some would be losers. The distribution of winners and losers is random. So, you won’t know which will end up as a winner or loser, and interestingly, you don’t need to know.
“An edge is nothing more than an indication of a higher probability of one thing happening over another.”
What matters to you is to make sure that your strategy has an edge in the market you are trading. That is, over a large number of trades, either the number of winners is more than the losers or the amount of money made from the winners supersedes the amount lost from losers when there are more losers.
“Every moment in the market is unique.”
The same trading setup that played out as a winner in the previous trade can play out as a loser in the current trade because the present moment is unique and different from that previous one.
“When you genuinely accept risk, you will be at peace with any outcome.”
Realizing the five quotes above, the legendary Mark Douglas expects you to accept to genuinely accept the risks inherent in each trade — knowing that it can be a loser and being fine with that. Once you achieve this, you will be at peace with whatever outcome you get from each trade.
Trading quotes #18 — Marty Schwartz
“The most important thing in making money is not letting your losses get out of hand. 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.”
It seems that almost every successful trader talks about managing risks. Marty Schwartz is basically repeating the same thing others said: protect your trading capital so that you make the next trade.
Trading quotes #19 — Michael Carr
“Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets.”
The quote looks simple, but it carries a lot of meanings. Michael Carr wants you to focus on the thing you can control and not on what you can’t control. You obviously can’t control what the market is going to do, so there’s little sense in worrying about that. What matters to you is how you respond to whatever the market throws at you. You must have a plan for every market situation.
Trading quotes #20 — Michael Marcus
“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. Perhaps the most important rule is to hold on to your winners and cut your losers.”
Obviously, you need a lot of courage to succeed in trading because it is highly likely that you will blow up your first trading capital or more. And when that happens, you may lose hope about ever succeeding in trading and may not bother raising another capital to trade again. Michael Marcus means that even if you manage to raise another capital, you may become afraid to pull the trigger when your setup occurs in the market.
Trading quotes #21 — Michael Steinhardt
“Make good decisions even with incomplete information. You will never have all the information you need. What matters is what you do with the information you have.”
As long as trading is concerned, you will always feel like you don’t have enough information to make your trading decision. If care is not taken, you will keep chasing more and more information by applying all sorts of indicators on your chart. At the end of the day, the so-called extra information does not add anything new but you end up with analysis paralysis. Michael Steinhardt advises us to learn how to make a decision with the information we have to avoid falling into the trap of analysis paralysis.
Trading quotes #22 — Nicolas Darvas
“I believe in analysis and not forecasting. All a company report and balance sheet can tell you is the past and the present; they cannot tell future.”
Like other successful traders, Nicolas Darvas emphasizes on focusing what the market tells you at the moment, rather than trying to predict what will happen in the future. Every data you have at any point in time can only tell you about the present and the past; the future remains unknown but shouldn’t matter.
Trading quotes #23 — Alexander Elder
“The goal of a successful trader is to make the best trades. Money is secondary.”
Alexander Elder is one of the legendary traders that created several trading indicators and methods of analyzing the markets. You can imagine how he so much enjoyed the process of identifying trading opportunities that he started creating indicators. For him, it’s all about getting the process right — understanding your strategy and executing your trades the best possible way.
Money is only a by-product of getting the process right. Your focus should be on the process; don’t bother about money. If you have a strategy with an edge and consistently execute your trades well, you will definitely make money in the long run.
Trading quotes #24 — Steve Clark
“Do more of what works and less of what doesn’t.”
Trading is a personal journey. In this journey, you learn by applying yourself and finding out for yourself what works and what does not. Steve Clark tells you that success comes by doing more of what you find out works for you and doing less of what you notice does not work.
Trading quotes #25 — Tom Basso
“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 to buy and sell.”
Tom Basso is right about this: mastering your trading psychology and risk control is far more important than knowing where to buy and sell. You can buy a trading strategy that tells you where to buy and sell, but it’s you who have to learn and master risk control and how to manage your trading emotions.
“As long as you learn something from a loss, it’s not really a loss.”
One of the important aspects of trading psychology is knowing how to take a loss. You have to learn something from the loss. That way, it adds value to you as a trader.
Trading quotes #26 — Stanley Druckenmiller
“I believe that good investors are successful not because of their IQ, but because they have an investing discipline.”
Stanley Druckenmiller is an American investor, hedge fund manager, who worked for George Soros’s Quantum Fund as the lead portfolio manager. What he is saying in that quote is that achieving success in trading is not a question of intelligence; instead, it is dependent on the trader’s ability to be disciplined enough to execute his strategy all the time. A profitable trading strategy if not implemented with discipline would never make any profit.
Trading quotes #27 — William Eckhardt
“The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of trades is the least important performance statistic and may even be inversely related to performance.”
William Eckhardt is a renowned commodities and futures trader and fund manager who conducted the famous Turtle Trading experiment with his friend, Richard Dennis. In this quote, he indicates that the win rate of any trading system is not the most important factor. You can have a low win rate and still be profitable because the reward for any win is far more than the loss in a losing trade. A good system should have a good reward/risk ratio.
Trading quotes #28 — Steven Cohen
“I always tell my traders that they would’ve loved the 1990s because it was a fairly easy time to make money. It’s hard to find ideas that aren’t picked over and harder to get real returns and differentiate yourself. We are entering a new environment. The days of big returns are gone.”
What Steve Cohen is saying here is that it is difficult to find an edge in the market these days, and he is right, especially for discretionary trading. With the advent of algorithmic trading, the market has become more efficient, which makes it difficult to find inefficiencies to exploit.
Trading quotes #29 — Richard Driehaus
“If there’s a large move on significant news, either favorable or unfavorable, the stock will usually continue to move in that direction.”
Richard Driehaus is often seen as the father of momentum investing. In this quote, he indicates that once the price gains momentum in one direction, it is likely to remain in that direction. For example, during a news release, the market may interpret the news as favorable or unfavorable and move in the corresponding direction, and it is likely to continue moving in that direction until something else changes its direction.
Trading quotes #30 — Gil Blake
“Whenever I take a position, I like to imagine what it would be like under the worst-case scenario. In doing so, I minimize the confusion if that situation actually develops. In my view, losses are a very important part of trading. When a loss happens, I believe in embracing it.”
What Gil Blake is saying here is that by trying to imagine the worst-case scenario after placing a trade, one can get his or her mind prepared for anything the market does. If the trade ends in a loss, it is easier to accept without getting too attached to the outcome.
Trading quotes #31 — Mark Ritchie
“If I find myself praying about a position, I liquidate immediately.”
Mark Ritchie is a veteran of commodity trading, so he knows what it means to be at the mercy of the market. As a trader, you must put the control in your hands. If the market is going against your position, the best thing is to exit from the trade to avoid a catastrophic loss. There is no point hoping and praying that the market turns around in your favor. Hope is a dangerous thing in trading.
Trading quotes #32 — Joe Ritchie
“Successful traders tend to be instinctive rather than overly analytical.”
Joe Ritchie is an options and commodities trader who founded Chicago Research and Trading (CRT) in 1977. He believes that too much analysis is not always good in trading because there will always be new information you may want to factor into your analysis but trying to do that may lead to analysis paralysis. To be a good trader, there must be a balance between analyzing more information and using your guts.
Trading quotes #33 — Michael Lauer
“This business is not about investing in great companies; it’s about profiting from inefficiently priced stocks.”
This Michael’s quote is one of the tenets of technical analysis. As a technical trader, Michael Lauer believes that everything is already reflected in the price and volume data, so if a trader can find a consistent inefficiency in those, he or she can exploit it to make money. Trading based on technical analysis means that you only need to study the charts to find tradable patterns that reflect market inefficiency and have a high probability of success.
Trading quotes #34 — Dana Galante
“One thing I look for is companies with slowing revenue growth who have kept their earnings looking good by cutting expenses. Usually, it’s only a matter of time before their earnings growth slows as well. Another thing I look for is a company that is doing great but has a competitor creeping up that no one is paying attention to.”
Dana Galante is famed for using a short-only strategy. This quote shows how she spots stocks that are good for short positions. Her idea is to short stocks of companies that are not performing well and has a formidable competitor.
Trading quotes #35 — Steve Watson
“You have to be willing to accept a certain level of risk, or else you will never pull the trigger. You can’t be afraid to take a loss. The people who are successful in this business are the people who are willing to lose money.”
Steve Watson says it the way it is. Trading requires taking a certain amount of risk to stand a chance to gain. If you are afraid of taking the risk, you won’t be able to pull the trigger. But you should only risk what you can afford to lose because, on many occasions, you will actually lose, and you must be willing to take that loss if you want to succeed.
Trading quotes #36 — Victor Sperandeo
“The key to building wealth is to preserve capital and wait patiently for the right opportunity to make the extraordinary gains.”
Often called Trader Vic, Victor Sperandeo is renowned for having ‘predicted’ the stock market crash of 1987. In this quote, he admonishes traders to preserve their capital and wait for the right moment. There is no point in trying so hard to make money in an unfavorable market and risk losing your capital. Preserve that capital and wait until the market is favorable and you see a high-probability setup before you make a bet.
Trading quotes #37 — Claudio Guazzoni
“I was particularly attracted to the concept of buying undervalued assets, which I became aware was not something that was confined to just leveraged buyouts. Every period of time has its own opportunities where one can find investments that are extremely discounted and have a very well-protected downside.”
Claudio Guazzoni and his strategy is to buy undervalued stocks because they are trading at a discount and, thus, may be said to have lower downside potential. Many successful investors use this value investing approach. Warren Buffet is a huge fan of value investing. The key to using this approach is knowing when to enter the market because it can be dangerous to try to catch a falling knife — it can cut deeply.
Trading quotes #38 — David Shaw
“I grew up with the idea that, if not impossible, it was certainly extremely difficult to beat the market. And even now, I find it remarkable how efficient the markets actually are. It would be nice if all you had to do in order to earn abnormally large returns was to identify some sort of standard pattern in the historical prices of a given stock.”
In this quote, David Shaw points out how difficult trading can be. Some people tend to think that trading is easy — just hitting the buy or sell button based on a certain pattern in the market. Mastering the act of trading goes beyond finding a pattern and placing a trade order.
Trading quotes #39 — Michael Masters
“There’s a temporal difference between speculative flows and price formation, and supply and demand flows”
Michael Masters is trying to let us understand that price movements from retail speculators are different from those caused by smart money. If you want to catch the major price movements, you have to look for patterns of price movement created by smart money.
Trading quotes #40 — Steve Lescarbeau
“I do not attempt to prognosticate the market. I react to what happens in the market.”
Steve Lescarbeau states the obvious here: you don’t impose your expectations on the market; instead, you should react to what you see in the market at that moment. Trading your expectations, rather than what you see in the market can lead to frequent losses. For example, don’t expect that the market will reverse at a particular support or resistance level just because it did the last time it went to that level. Wait until the market actually reverses before you make your trade.
Trading quotes #41 — Mark Minervini
“During a difficult trading environment, your gains will be smaller and less frequent than during a healthy market. When this occurs, remember three words (with a nod to Nike): “Adjust” Do It! Always think of risk in relation to reward. You must adjust your risk as a function of potential reward.”
What Mark Minervini is saying in this quote is that you should be flexible in executing your trading system. Market volatility changes from time to time. You don’t use the same reward size when volatility is low. Adjust your parameters according to the market condition.
Trading quotes #42 — Mark D. Cook
“Most aspiring traders underestimate the time, work, and money required to become successful. To succeed as a trader, one needs complete commitment. Just as in any entrepreneurial venture, you must have a solid business plan, adequate financing, and a willingness to work long hours. Those seeking shortcuts are doomed to failure.”
Mark Cook lays out what an intending trader needs to do to stand a chance at succeeding in trading.
Trading quotes #43 — Ahmet Okumus
“Simple logic: My top ten ideas will always perform better than my top hundred.”
Ahmet Okumus believes in focusing on a few things at once than spreading your hands to capture as many as you can. Concentrating efforts on a few ideas or a few stocks will yield a better result than spreading out to many.
Trading quotes #44 — Alphonse Fletcher Jr.
“Never make a bet you can’t afford to lose!”
This is a very important point; it will save you both your trading capital and emotional capital. Always bet with an amount you can afford to lose. Experienced traders like Alphonse Fletcher advise beginners to not risk more than 1% of their account balance in each trade.
Trading quotes #45 — Randy McKay
“When you’re trading well, you have a better mental attitude. When you’re trading poorly, you start wishing and hoping. Instead of getting into trades you think will work, you end up getting into trades you hope will work. I basically learned that you must get out of your losses immediately.”
In this quote, Randy McKay explains the psychological process that goes on within us when we are trading. The worst thing we can do when trading is to wish and hope that our trades move in our favor when we’re losing. Always cut short the losses and save your capital.
Trading quotes #46 — Howard Seidler
“You can be following your rules exactly and still lose money. In that situation, you certainly haven’t performed poorly as a trader.”
What Howard Seidler said here is very important. The outcome of each trade is random, and there’s nothing you can do about that; there is no way of knowing which trade will have a positive outcome. So, you simply focus on executing your strategy and ignore the outcome of each trade, knowing that provided your strategy has an edge, you will eventually make money.
Trading quotes #47 — Blair Hull
“It’s not the mathematical skill that’s critical to winning; it’s the discipline of being able to stick to the system.”
Blair Hull emphasizes what most traders have said before: having the discipline to stick to your system is what makes you a good trader. Creating the system is just the beginning; the real work is in training your mind to be disciplined.
Trading quotes #48 — Jeff Yass
“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 tells us to have a system that allows us to run a comprehensive analysis of the market situation before placing our trades because our first impulse might be wrong.
Trading quotes #49 — Charles Faulkner
“The people who excel in any field are people who realize that the moment is there to be seized and that there are opportunities at every turn. They are more alive to the moment.”
The market is always there, and trading opportunities will always come. Your work as a trader according to Charles Falkner is to seize any trading opportunity you see in the market, but don’t go about chasing after a missed opportunity, because another opportunity will come — just be present to take it.
Trading quotes #50 — Richard Dennis
“You have to minimize your losses and try to preserve capital for those very few instances where you can make a lot in a very short period of time. What you can’t afford to do is throw away your capital on suboptimal trades.”
Richard Dennis was very famous for performing the Turtle Trading experiment with his business partner, William Eckhardt. What he is saying here is that you must do anything you have to do to protect your trading capital so that you can trade when great opportunities come around.

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Adam Harris
The key is to develop a case where the probabilities of the market going in your favour is greater than it going against you.
Adam Harris
Albert Einstein’s quotes can apply to trading
It’s not that I’m so smart; it’s just that I stay with problems longer.
Albert Einstein
Alexander Elder
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
The goal of a successful trader is to make the best trades. Money is secondary.
Alexander Elder
You can be free. You can live and work anywhere in the world. And you can be independent from routine and not answer to anybody.
Alexander Elder
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.
Alexander Elder
Andreas Clenow
Beware of trading quotes.
Andreas Clenow
Anne-Marie Beiynd
It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).
Some quotes from Anthony Hopkins to apply to your trading
We are dying from overthinking. We are slowly killing ourselves by thinking about everything. Think. Think. And think. You can never trust the human mind anyway. It’s a death trap.
Anthony Hopkins
Some quotes from Anthony Robbins to apply to your trading
It’s not what we do once in a while that shapes our lives. It’s what we do consistently.
Arthur Zeikel
Stock price movements actually begin to reflect new developments before it is generally recognized that they have taken place.
Arthur Zeikel
Babe Ruth
It’s hard to beat a person who never gives up.
Babe Ruth
Benjamin Franklin quotes you can apply to your trading
An investment in knowledge pays the best interest.
Benjamin Franklin
Benjamin Graham
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
Bernard Baruch
In trading/investing, it’s not about how much you make but rather how much you don’t lose.
Bernard Baruch
Bill Lipschutz
If a trader is motivated by the money, then it is the wrong reason. A truly successful trader has got to be involved and into the trading, the money is the side issue… The principal motivation is not the trappings of success. It’s usually the by-product – simply stated, “the game’s the thing”.
Bill Lipschutz
If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.
Brett Steenbarger
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.
Brett Steenbarger
Bruce Kovner
I know where I’m getting out before I get in.
Bruce Kovner
If you personalise losses, you can’t trade.
Bruce Kovner
Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.

Bruce Kovner
My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks.
Best Charlie Munger’s trading quotes
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
It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
Charlie Munger
Christopher Isaac Stone
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.
Christopher Isaac Stone
Chuck D.
Never let a win go to your head, or a loss to your heart.
Chuck D.
Confucius
It does not matter how slowly you go as long as you do not stop.
Confucius
David Sikhosana
Losses are necessary, as long as they are associated with a technique to help you learn from them.
David Sikhosana
Most people dont understand the process. They get frustrated by it. Dont Be. Focus
David Sikhosana
Doug Gregory
Trade What’s Happening… Not What You Think Is Gonna Happen.
Ed Seykota best trading quotes
Setting your stop properly is most of the job
Before I enter a trade, I set stops at a point which the chart sours.
Ed Seykota
Cut your losses. Cut your losses. And cut your losses. Then maybe you have a chance.
Ed Seykota
I set protective stops at the same time I enter a trade. I normally move these stops to lock in a profit as the trend continues.
Ed Seykota
If you can’t take a small loss, sooner or later you will take the mother of all losses.
Ed Seykota
In order of importance to me are: (1) the long-term trend, (2) the current chart pattern, and (3) picking a good spot to buy or sell.
Ed Seykota
Handling risk is the key for longevity
Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up.
Ed Seykota
Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.
Ed Seykota
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
The trend is your friend until the end when it bends.
Ed Seykota
There are old traders and there are bold traders, but there are very few old, bold traders.
Ed Seykota
Trading systems don’t eliminate whipsaws. They just include them as part of the process.
Ed Seykota
Win or lose, everybody gets what they want from the market. Some people seem to like to lose, so they win by losing money.
Ed Seykota
Fred McAllen
You don’t make money by trading, you make it by sitting. It takes patience to wait for the trade to develop, 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.
Gary Vaynerchuk
I hate how many people think, “glass-half-empty” when their glass is really four-fifths full. I’m grateful when I have one drop in the glass because I know exactly what to do with it.
Gary Vaynerchuk
Best trading quotes from George Soros
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.
George Soros
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
Short term volatility is greatest at turning points and diminishes as a trend becomes established.
George Soros
Gerald M. Loeb
Accepting losses is the most important single investment device to ensure the safety of capital.
Gerald M. Loeb
Helen Gurley Brown
Money, if it does not bring you happiness, will at least help you be miserable in comfort.
Helen Gurley Brown
Henrique M. Simões
An average trader loses money, so in this profession, you need to be way above average to make consistent money trading the markets.
Henrique M. Simões
In order to win as a contrarian, you need perfect timing and the perfect size.
Henrique M. Simões
In trading, the impossible happens about twice a year.
Henrique M. Simões
The best traders have trading habits, daily routines they repeat day after day.
Henrique M. Simões
Henry Ford
When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.
Ifan Wei
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.
Ifan Wei
J.J. Evans
Take your profits or someone else will take them for you.
Jack Schwager’s best trading quotes
Jack Schwager best trading quotes
Amateurs think about how much money they can make. Professionals think about how much money they could lose.
Jack Schwager
Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions
Jack Schwager
The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless.
Jack Schwager
There are a million ways to make money in the markets. The irony is that they are all very difficult to find.
Jack 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 Schwager
Jason Klatt
Sheer will and determination is no substitute for something that actually works.
Jason Klatt
Jaymin Shah
Don’t blindly follow someone, follow [the] market and try to hear what it is telling you.
Jaymin Shah
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
Jeff Cooper
Never confuse your position with your best interest. Many traders take a position in a stock and form an emotional attachment to it. They’ll start losing money, and instead of stopping themselves out, they’ll find brand new reasons to stay in. When in doubt, get out!”
Jeff Cooper
Jesse Livermore‘s most interesting trading quotes
Jesse Livermore best trading quotes
Don’t expect a steady pay check from trading
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. I’ve known many [traders] who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine; that is, they made no real money out of it. [Traders] who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.
Jesse Livermore
All through time, people have basically acted and reacted the same way in the market as a result of greed, fear, ignorance, and hope. That is why the numerical formations and patternsrecur on a constant basis. Over and over, with slight variations. Because markets are driven by humans and human nature never changes.
Jesse Livermore
Let the market be your guide
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
I don’t buy long stocks on a scale down, I buy on scale-up.
Jesse Livermore
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.
Jesse Livermore
I trade my own information and follow my own methods.
Jesse Livermore
It was never my thinking that made the big money for me, it always was sitting.
Jesse Livermore
Markets are never wrong, but opinions often are.
Jesse Livermore
Money is made by sitting, not trading.
Jesse Livermore
The market is always right
Only the game, can teach you the game.
Jesse Livermore
Remember that stocks are never too high for you to begin buying or too low to begin selling.
Jesse Livermore
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.
Jesse Livermore
The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.
Jesse Livermore
The obvious rarely happens, the unexpected constantly occurs.
Jesse Livermore
The reason for what a certain stock does today may not be known for two or three days, or weeks, or months. But what the dickens does that matter? Your business with the tape is now – not tomorrow! The reason can wait. But you must act instantly or be left.
Jesse Livermore
Good timing is important
There is a time to go long, a time to go short and a time to go fishing.
Jesse Livermore
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.
Jesse Livermore
There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time.
Jesse Livermore
Trader has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.
Jesse Livermore
Watch the market leaders.
Jesse Livermore
Jim Cramer’s best trading quotes
Hope is bogus emotion that only costs you money.
Jim Paul
Speculating (and this includes investing and trading) is the only human endeavor in which what feels good is the right thing to do.
Jim Paul
Jim Rogers
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.
Joe Granville
If it’s obvious, it’s obviously wrong.
Joe Granville
Joe Vidich
Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment.
Joe Vidich
Joel Greenblatt
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.
Joel Greenblatt
John Bogle
Time is your friend; impulse is your enemy.
John Bogle
Some great quotes from John Maynard Keynes you can apply to your trading
Markets can remain irrational longer than you can remain solvent.
John Maynard Keynes
Successful investing is anticipating the anticipations of others.
John Maynard Keynes
John Paulson
Those types of investments don’t come around very often.
Justin Mamis
Stocks are bought not in fear but in hope. They are typically sold out of fear.
Justin Mamis
Kurt Capra
If you want real insights that can make you more money, look at the scars running up and down your account statements. Stop doing what’s harming you, and your results will get better. It’s a mathematical certainty!
Larry Connors
I get real, real concerned when I see trading strategies with too many rules (you should too).
Larry Connors
Larry Hite
By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.
Larry Hite
Frankly, I don’t see markets; I see risks, rewards, and money.
Larry Hite
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
If you don’t respect risk, eventually they’ll carry you out.
Larry Hite
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
Linda Raschke
All you need is one pattern to make a living.
Linda Raschke
Mark Douglas
If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.
Mark Douglas
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.
Mark Douglas
You create your own game in your mind based on your beliefs, intents, perception and rules.
Mark Douglas
Mark Harila
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.
Mark Harila
Martin Schwartz’s best trading quotes
Martin Schwartz best trading quotes
A great trader is like a great athlete. You have to have natural skills, but you have to train yourself how to use them.
Martin Schwartz
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.
Martin Schwartz
By living the philosophy that my winners are always in front of me, it is not so painful to take a loss.
Martin Schwartz
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.
Martin Schwartz
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.
Martin Schwartz
Learn to take losses. The most important thing in making money is not letting your losses get out of hand.
Martin Schwartz
My attitude is that I always want to be better prepared than someone I’m competing against. The way I prepare myself is by doing my work each night.
Martin Schwartz
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.
Martin Schwartz
Trading is a psychological game. Most people think they are playing against the market, but the market doesn´t care. You’re really playing against yourself.
Martin Zweig
Don’t fight the Fed.
Martin Zweig
It’s OK to be wrong; it’s unforgivable to stay wrong.
Martin Zweig
Michael Carr
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 Covel
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
Never, ever argue with your trading system.
Michael Covel
Michael Jordan
I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game’s winning shot and missed. I’ve failed over and over and over again in my life and that’s why I succeed.
Michael Jordan
Michael M. Lewis
The men on the trading floor may not have been to school, but they have Ph.D.’s in man’s ignorance.
Michael M. Lewis
Michael Marcus
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.
Michael Marcus
When in doubt, get out and get a good night’s sleep. I’ve done that lots of times and the next day everything was clear… While you are in [the position], you can’t think. When you get out, then you can think clearly again.
Michael Marcus
Michael Steinhardt
Good investing is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake.
Michael Steinhardt
Monroe Trout
Some people make shoes. Some people make houses. We make money, and people are willing to pay us a lot to make money for them.
Some quotes from Nassim Nicholas Taleb traders can apply to their trading
I was convinced that I was totally incompetent in predicting market prices – but that others were generally incompetent also but did not know it, or did not know they were taking massive risks. Most traders were just “picking pennies in front of a steamroller,” exposing themselves to the high-impact rare event yet sleeping like babies, unaware of it.
Nassim Nicholas Taleb
There is a saying that bad traders divorce their spouse sooner than abandon their positions. Loyalty to ideas is not a good thing for traders, scientists – or anyone.
Nassim Nicholas Taleb
Nicolas Darvas
I believe in analysis and not forecasting.
Paul Samuelson
Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
Paul Samuelson
Paul Tudor Jones
Paul Tudor Jones best trading quotes
5/1 risk/reward ratio allows you to have a hit rate of 20%. I can actually be a complete imbecile. I can be wrong 80% of the time and still not lose.
Paul Tudor Jones
Don’t focus on making money, focus on protecting what you have.
Paul Tudor Jones
Everyday I assume every position I have is wrong.
Paul Tudor Jones
I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.
Paul Tudor Jones
Losers average losers.
Paul Tudor Jones
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?
Paul Tudor Jones
The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
Paul Tudor Jones
Trading is very competitive and you have to be able to handle getting your butt kicked.
Paul Tudor Jones
Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt. After a while size means nothing. It gets back to whether you’re making 100% rate of return on $10,000 or $100 million dollars. It doesn’t make any difference.
Paul Tudor Jones
Peter Bernstein
The fundamental law of investing is the uncertainty of the future.
Peter Bernstein
Peter Borish
We want to perceive ourselves as winners, but successful traders are always focusing on their losses.
Peter Borish
Peter Lynch
All the math you need in the stock market you get in the fourth grade.
Peter Lynch
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.
Peter Lynch
Never invest in any idea you can’t illustrate with a crayon.
Peter Lynch
People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences. Calamitous drops do not scare them out of the game.
Peter Lynch
Philip Fisher
The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.
Philip Fisher
The stock market is filled with individuals who know the price of everything, but the value of nothing.
Randy McKay
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.
Randy McKay
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.
Randy McKay
Ray Dalio
In trading, you have to be defensive and aggressive at the same time. If you are not aggressive, you are not going to make money, and if you are not defensive, you are not going to keep money.
Richard Branson
Do not be embarrassed by your failures, learn from them and start again.
Richard Branson
Richard Dennis
How much of a role does luck play in trading? In the long run, zero. Absolutely zero. I don’t think anybody winds up make money in this business because they started out lucky.
Richard Dennis
In the real world, it is not too wise to have your stop where everyone else has their stop.
Richard Dennis
Trade small because that’s when you are as bad as you are ever going to be. Learn from your mistakes.
Richard Dennis
Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.
Richard Dennis
You should expect the unexpected in this business; expect the extreme. Don’t think in terms of boundaries that limit what the market might do.
Richard Dennis
Richard Rhodes
Be patient. If a trade is missed, wait for a correction to occur before putting the trade on.
Richard Rhodes
Be patient. Once a trade is put on, allow it time to develop and give it time to create the profits you expect.
Richard Rhodes
Buy that which is showing strength – sell that which is showing weakness. The public continues to buy when prices have fallen. The professional buys because prices have rallied.
Richard Rhodes
In a bull market, one can only be long or on the sidelines. Remember, not having a position is a position.

Richard Rhodes
Market form their lows in quiet conditions.
Richard Rhodes
Markets form their tops in violence; the final 10% of the time of a bull run will usually encompass 50% or more of the price movement.
Richard Rhodes
When comparing various stocks within a group, buy only the strongest and sell the weakest.
Richard Rhodes
Rob Smith
Buy things that are going up. Sell things that are going down. And when they stop, get out!
Rob Smith
Robert Arnott
In investing, what is comfortable is rarely profitable.
Robert Arnott
Robert G. Allen
How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.
Robert Rolih
Short-term trading is very time-consuming. That is why even “successful” short-term traders can easily have negative real ROI.
Robert Rolih
Sami Abusaad
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.
Scott Redler
Trade the market in front of you, not the one you want!
Scott Redler
Traders need a daily routine that they love. If you don’t love it, you’re not gonna do it.
Scott Redler
Seneca
Two elements must be rooted out once and for all. The fear of future suffering, and the recollection of past suffering. Since the latter no longer concerns me, and the former concerns me not yet.
Seneca
Seth Klarman
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.
Seth Klarman
The hard part is discipline, patience and judgement.
Seth Klarman
Sir John Templeton
Bull markets are born on pessimism, grow on skepticism, mature on optimism and die of euphoria.
Sir John Templeton
The four most dangerous words in investing are: This time it’s different.
Sir John Templeton
Steve Burns
There is a huge difference between a good trade and good trading.
Steve Burns
Steve Clark
Do more of what works and less of what doesn’t.
Sun Tzu
He who knows when he can fight and when he cannot, will be victorious.
Sun Tzu
The Buddha
When faced with all the ups and downs of life, still the mind remains unshaken, not lamenting, not generating defilements, always feeling secure; this is the greatest happiness.
Thomas Busby
I have been trading for decades and I am still standing. I have seen a lot of traders come and go. They have a system or a program that works in some specific environments and fails in others. In contrast, my strategy is dynamic and ever-evolving. I constantly learn and change.
Thomas Busby
Tom Baldwin
The best traders have no ego. You have to swallow your pride and get out of the losses.
Tom Baldwin
Tom Basso
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
Tom Dante
If you want to be a ledge… Find your edge…
Tom Dante
Tony Saliba
I always define my risk, and I don’t have to worry about it.
Tony Saliba
Some trading quotes have (known) sources
Bulls make money, bears make money, pigs get slaughtered.
Unknown
In trading, everything works sometimes and nothing works always.
Unknown
Markets change their behavior faster than people can change their minds… That is why intraday trading is so difficult.’
Unknown
One day does not make a trend.
Unknown
Sometimes the best trade is no trade.
Unknown
You don’t need to trade often. If you can catch one or two moves to the targets during the day with good size, you can make a good living and keep trading costs down.’
Unknown
If you happen to know where these trading quotes are from, feel free to email us.
Van K. Tharp
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.
Van K. Tharp
Victor Sperandeo
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.
Warren Buffett has some very important trading quotes
Warren Buffett
Trading is all about patience
Don’t test the depth of the river with both your feet while taking the risk.
Warren Buffett
For investors as a whole, returns decrease as motion increases.
Warren Buffett
I’ll tell you how to become rich: close all doors, beware when others are greedy and be greedy when others are afraid.
Warren Buffett
Invest in yourself as much as you can; you are your own biggest asset by far.
Warren Buffett
And trading is all about managing risk
Investing in yourself is the best thing you can do, and as a part of investing in yourself; you should learn more about money management.
Warren Buffett
It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.
Warren Buffett
It’s much better to buy a wonderful company at a fair price than a suitable company at a wonderful price.
Warren Buffett
Look at market fluctuations as your friend rather than your enemy.
Warren Buffett
Opportunities come infrequently. When it rains gold put out a bucket not a thimble.
Warren Buffett
Profit from folly, rather than participate in it.
Warren Buffett
Successful investing takes time, discipline and patience.
Warren Buffett
The market is a device for transferring money from the impatient to the patient.
Warren Buffett
The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
Warren Buffett
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
Warren Buffett
When it’s raining gold, reach for a bucket, not a thimble.
Warren Buffett
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.
Warren Buffett
You need to know very well when to move away, or give up the loss, and not allow the anxiety to trick you into trying again.
Warren Buffett
William Feather’s best trading quotes
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.
William Feather
William James
The greatest discovery of my generation is that human beings can alter their lives by altering their attitudes of mind.
William James
William O’Neil
Letting losses run is the most serious mistake made by most investors.
William O’Neil
The whole secret to winning big in the stock market is not to be right all the time, but to lose the least amount possible when you’re wrong.
William O’Neil
What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.
William O’Neil
Yvan Byeajee trading quotes
Trading tests you
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
Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.
Yvan Byeajee
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.
Yvan Byeajee
In order to succeed, you first have to be willing to experience failure.
Yvan Byeajee
Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it’s all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it’s a mistake.
Yvan Byeajee
The expectation that you bring with you in trading is often the greatest obstacle you will encounter.
Yvan Byeajee
The mind is a fascinating instrument that can make or break you.
Yvan Byeajee
The process by which one accumulates money is so simple, yet so hard to implement for most.
Yvan Byeajee
There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.
Yvan Byeajee
Trading is a great school
Trading doesn’t just reveal your character, it also builds it if you stay in the game long enough.
Yvan Byeajee
Trading effectively is about assessing probabilities, not certainties.
Yvan Byeajee
Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.
Yvan Byeajee
You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.
Yvan Byeajee
The question should not be how much I will profit on this trade! The true question is; will I be fine if I don’t profit from this trade.
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1. You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody.
Alexander Elder
Comment: Trading can be very exciting and rewarding, given you understand the foundations of the market and know what you’re doing.
2. I believe in analysis and not forecasting.
Nicolas Darvas
Comment: Without analysis, trading would pretty much resemble gambling. You can make a sound trading decision only if you’ve previously analysed the market.
3. 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.
Van K. Tharp
Comment: If you really want to succeed in trading, you need to treat trading as a full-time business and not as a part-time hobby. Learning how to trade successfully can be a tough endeavour.
4. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
Warren Buffett
Comment: In his quote, Buffet recommends to be one step ahead of the crowd. When everyone is buying, chances are that the price could reverse soon. Similarly, when everyone is selling, lower market prices create a great buying opportunity.
5. 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.
Randy McKay
Comment: Never chase the market for trades. If you have a losing streak, take a break and let your emotions cool down.
6. 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
Comment: The discipline of keeping your emotions under control is what makes or breaks a trader. If a trade goes against, inexperienced traders tend to wait for the trade to reverse – They don’t want to close it with a loss. However, that’s exactly what successful traders do.
7. What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.
William O’Neil
Comment: Markets are nothing more than a crowd of buyers and sellers. Greed and fear cause high prices to go even higher and low prices to go even lower – until the bubble bursts.
8. 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.
Warren Buffett
Comment: As another quote said, trading is not about intelligence but emotional discipline. The guy who is patient, disciplined and has strict money management rules will likely outperform the guy with a high IQ.
9. Money is made by sitting, not trading.
Jesse Livermore
Comment: This is a powerful one by Jesse Livermore. Placing a trade is straightforward and simple, but you have to do your analysis to make sure that the trade has a high success rate. Analysis and patience make up 99% of the work, placing a trade the remaining 1%.
10. 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?
Paul Tudor Jones
Comment: If you have difficulties falling asleep at night, chances are that you’re taking too much risk on your trades. Never risk more than you can afford to lose on a single trade.
Learn how to handle risk at our community:
11. 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
Comment: Here’s another quote that emphasises the importance of risk management. Cut your losses short and let your profits run, and you may succeed.
12. Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness… Paradoxically (and as an unintended consequence) your trading performance will improve significantly.
Yvan Byeajee
Comment: Many traders start to trade because of the potential reward. However, just like in other activities, you have to love your job to be good at it. Don’t focus too much on the money, but rather enjoy your trading journey. If you have problems in doing so, ask yourself whether trading is the right career path for you.
13. 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
Comment: Trading is all about controlling your emotions and risk management. Don’t expect to be right on every single trade – even professional traders aren’t.
14. You don’t need to trade often. If you can catch one or two moves to the targets during the day with good size, you can make a good living and keep trading costs down
Unknown
Comment: Overtrading is a major mistake that beginners in the market make. You’ll be good even with one or two trades per day, week or even month. The point is to pick those trades that have the highest probability of success. This also keeps trading costs down.
15. Don’t blindly follow someone, follow market and try to hear what it is telling you.
Jaymin Shah
Comment: Avoid following self-proclaimed market gurus. Try to build your own view of the market. If you’re a technical trader, keep in mind that the price is already discounting fundamental information and market news.
16. Losses are necessary, as long as they are associated with a technique to help you learn from them
David Sikhosana
Comment: This is a powerful quote from David. We can’t avoid losses, but we can follow a strict and sound trading plan and fine-tune it after each losing trade. Was your entry point the problem, or your stop-loss? What was your entry trigger? Identify the reason for the losing trade.
17. 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
Comment: Another great quote on risk management (as we said, there will be plenty of them.)
18. 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
Comment: Successful traders have a large chance to make a profit even from a bad trade. Why? Because they know what’s the right time to exit a trade.
19. It does not matter how slowly you go as long as you do not stop.
Confucius
Comment: Ok I admit, Confucius wasn’t a Forex trader, but many of his quotes can be related to trading. It’s consistency that makes a great trader.
20. The goal of a successful trader is to make the best trades. Money is secondary.
Alexander Elder
Comment: Forget about money. Trading is a business that you need to love to be good at it.
21. 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.
Jesse Livermore
Comment: It’s hard to rely on trading to make a living, although there are many traders who achieve that. You don’t have to take a trade every single day. Also, if you’re after a regular (and stable) income, well, then trading may be not the right career path for you.
22. It’s not what we do once in a while that shapes our lives. It’s what we do consistently.
Anthony Robbins
Comment: Great traders aren’t born or made overnight. It takes patience, discipline and consistency to master the art of trading.
23. Learn to take losses. The most important thing in making money is not letting your losses get out of hand
Marty Schwartz
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Comment: Losses are an integral part of any trader’s life. Losses are not the problem, it’s the ignorance of risk and money management and letting your losses get out of control that is.
24. 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.
Marty Schwartz
Comment: A streak of winning trades can boost your ego and self-confidence to such an extent that you start believing that you’re invincible. If that is the case, try to take a break from trading to calm your emotions down.
25. 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.
Peter Lynch
Comment: Even professional traders have a winning rate closer to 50-60% than you might think. It’s not the winning rate that determines the profitability of a trader – it’s the amount of profits that the trader makes relative to his or her losses.
26. It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.
Warren Buffett
Comment: Building a reputation is hard. It takes one bad decision, one bad trade to ruin everything.
27. If you personalize losses, you can’t trade.
Bruce Kovner
Comment: Never take losses personally. Markets are neither moral nor amoral – they’re immoral.
28. I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have
Paul Tudor Jones
Comment: As traders, the most important step we need to do is to preserve our trading capital at all times. Only then should we think about profits and making money.
29. You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.
Yvan Byeajee
Comment: Another powerful quote from Yvan, that tells us trading is not all about making money and a regular income. There are no guarantees in trading. You need to appreciate what you already have to enjoy trading.
30. Markets change their behavior faster than people can change their minds… That is why intraday trading is so difficult
Unknown
Comment: Intraday trading is full of market noise and over-reaction to news. Sentiment can change quite fast on short-term timeframes, often faster than traders’ minds.
31. 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.
Yvan Byeajee
Comment: We decided to put this as the last quote in our list because of its timeless wisdom. Trading is all about patience, focus, control of emotions and similar skills that can be found in meditation for example. That’s why some traders don’t make it in the market despite their efforts.
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Second part of lists of trading quotes for your joy. May it help you to find your edge.

1. “The goal of a successful trader is to make the best trades. Money is secondary.” - Alexander Elder
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 judgement.

Inspirational trading quotes by Steve Clark
2. “Do more of what works and less of what doesn’t.” - Steve Clark
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!

Inspirational trading quotes by Michael Covel
3. “Never, ever argue with your trading system” - Michael Covel
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!

Inspirational trading quotes by Peter Lynch
4. “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.” - Peter Lynch
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.

5. “All the math you need in the stock market you get in the fourth grade.” - Peter Lynch
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.

Inspirational trading quotes by Bruce Kovner
6. “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.” - Bruce Kovner
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.

Inspirational trading quotes by Robert Arnott
7. “In investing, what is comfortable is rarely profitable.” - Robert Arnott
Meaning: You need to take risks in order to make a profit. If there’s no risk in the trades your making, you cannot expect to really make a living as a trader.

8. “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 Schwagger
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.

Inspirational trading quotes by Bill Lipschutz
9. “If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” - Bill Lipschutz
Meaning: The best traders know that patience is the key to making successful trades. Don’t trade too often and avoid overtrading.

Inspirational trading quotes by Bernard Baruch
10. “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.

11. “Every trader has strengths and weaknesses. 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.” - Michael Marcus
Meaning: What works for you as a trader may not work for others. Every trader has their own trading style.

Inspirational trading quotes by John Bogle
12. “Time is your friend; impulse is your enemy.” - John Bogle
Meaning: Another motivational trading quote to remind you to be patient. Take your time and don’t give in to your impulses.
Inspirational trading quotes by Jesse Livermore
13. “There is a time to go long, a time to go short and a time to go fishing.” - Jesse Livermore
Meaning: Another inspirational trading quote about trading less rather than more. Having a break from trading can often make you a better trader.

14. “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
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.

15. “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.” - Jesse Livermore
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.

16. “Money is made by sitting, not trading.” - Jesse Livermore
Meaning: Sit and wait for the right opportunity. Awesome trading quote about patience.

17. “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.” - Jesse Livermore
Meaning: It’s a well-known fact that markets repeat themselves! If a situation appeared before, it will certainly reappear.

18. “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.” - Mark Douglas
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.

Inspirational trading quotes by Mark Douglas
19. “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” - Mark Douglas
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.

20. “Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions.” - Jack Schwagger
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.

Inspirational trading quotes by Peter Borish
21. “We want to perceive ourselves as winners, but successful traders are always focusing on their losses.” - Peter Borish
Meaning: Successful traders think more about protecting what they already have. That is always more important than making more money.

22. “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.

Inspirational trading quotes by Larry Hite
23. “Frankly, I don’t see markets; I see risks, rewards, and money.” - Larry Hite
Meaning: Another one for keeping things simple! Remove everything else from your mind and focus on the key elements of trading.

24. “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 anyone book will do it for you.” - Charlie Munger
Meaning: Good traders never stop learning. Even when they become pros at trading, they are still learning.

Inspirational trading quotes by Benjamin Graham
25. “In the short run, the market is a voting machine, but in the long run it is a weighing machine.” - Benjamin Graham
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.

Inspirational trading quotes by Tony Robbins
26. “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.” - Tony Robbins
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.

27. “Bulls make money, bears make money, pigs get slaughtered.” - Unknown
Meaning: You can make money when the market is going up and down, but you won’t make money if you’re greedy.

28. “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” - Paul Samuelson
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.

Inspirational trading quotes by Peter Bernstein
29. “The fundamental law of investing is the uncertainty of the future.” - Peter Bernstein
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.

Motivational trading quotes by Alexander Elder
30. “You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody.” - Alexander Elder
Meaning: Perhaps one of the most inspirational trading quotes to remind you how liberating it is to be a trader!

31. “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.” - Alexander Elder
Meaning: This motivational trading quote is maybe one of the most actionable. Take heed and find out what works for you.

Inspirational trading quotes by Jason Klatt
32. “Sheer will and determination is no substitute for something that actually works.” - Jason Klatt
Meaning: Motivation is not enough to become a successful trader. You need knowledge, specifically knowledge of what works for you.

Inspirational trading quotes by George Soros
33. “Short-term volatility is greatest at turning points and diminishes as a trend becomes established.” - George Soros
Meaning: Great words from a trading legend. Remember this quote when putting together a trading strategy that utilises trends.

34. “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
Meaning: Although we can never be 100% sure what direction the markets will move, some things can be estimated and some things can’t.

35. “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.” - George Soros
Meaning: Another excellent quote for risk-reward ratios. And another example of a top trader keeping losses in mind at all times.

Inspirational trading quotes by Henrique M Simoes
36. “In trading, the impossible happens about twice a year.” - Henri M Simoes
Meaning: A helpful reminder that every so often the unbelievable will happen. Keep your eyes peeled for those moments.

37. “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 behaviour.” - Brett Steenbarger
Meaning: You can’t fit the market around your strategy, you can only fit your strategy around the market.

38. “Never invest in any idea you can’t illustrate with a crayon.” - Peter Lynch
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.

See Also: Invest like Peter Lynch - The Stock Picking Expert

Inspirational trading quotes by Larry Connors
39. “I get real, real concerned when I see trading strategies with too many rules (you should too).” - Larry Connors
Meaning: Just like the above, this is a great trading quote about keeping trading strategies simple. The fewer the rules there are the better.

Inspirational trading quotes by Jim Rogers
40. “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
Meaning: Patience is one of the most valued skills in trading. You have to remember to only strike when the time is right!

Inspirational trading quotes by Nicolas Darvas
41. “I believe in analysis and not forecasting.” - Nicolas Darvas
Meaning: A good quote for keeping trading scientific and in the moment. Try to keep forecasting to a minimum, if possible.

Inspirational trading quotes by Yvan Byeajee
42. “Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” - Yvan Byeajee
Meaning: Attaining the skills to become a great trader is a lifelong journey. To be successful requires you to make changes in your life.

43. “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.” - Yvan Byeajee
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.

44. “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
Meaning: Excellent advice on trader psychology. You need to have the right approach to winning and losing trades.

45. “You will never find fulfilment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” - Yvan Byeajee
Meaning: A great trading quote to remind you to appreciate and protect what you already have. Understanding risk means appreciating what you already have.

Inspirational trading quotes by Andreas Clenow
46. “Beware of trading quotes.” - Andreas Clenow
Meaning: A hilarious quote to remind you that inspirational trading quotes are not enough to be a successful trader!

Inspirational trading quotes by Martin Schwartz
47. “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” - Martin Schwartz
Meaning: In order to avoid losses, you must first understand and respect them. But more importantly, you need to mentally accept them.

48. “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.” - Martin Schwartz
Meaning: Smart traders trade less not more! Don’t let yourself get caught up in the market!

49. “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.” - Martin Schwartz
Meaning: Another important reminder to look after what you already have.

50. “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.” - Martin Schwartz
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!

51. “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.” - Martin Schwartz
Meaning: A good quote to remind yourself of the importance of technical analysis.

52. “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.” - Randy McKay
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.

53. “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.” - Randy McKay
Meaning: A great trading strategy to reduce losses. Every time you lose a trade, reduce the amount you are trading.

Inspirational trading quotes by Phillip Fisher
54. “The stock market is filled with individuals who know the price of everything, but the value of nothing.” - Phillip Fisher
Meaning: In trading, the price of an instrument isn’t as important as the value it gives you.

Inspirational trading quotes by Robert G Allen
55. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” - Robert G. Allen
Meaning: A great point illustrating that a saving account will never make you rich. Trading is a much more effective way to create wealth.

Inspirational trading quotes by David Sikhosana
56. “Losses are necessary, as long as they are associated with a technique to help you learn from them” - David Sikhosana
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.

Inspirational trading quotes by Paul Tudor Jones
57. “Every day I assume every position I have is wrong.” - Paul Tudor Jones
Meaning: It may not sound that inspirational, but this quote speaks volumes about the importance of mentally preparing for being wrong.

58. “The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.” - Paul Tudor Jones
Meaning: As that old saying goes ‘knowledge is power. With trading that is undeniably true.

59. “Trading is very competitive and you have to be able to handle getting your butt kicked.” - Paul Tudor Jones
Meaning: Don’t give up just because your trading plan fell apart. You need to learn from that experience and keep going!

60. “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?” - Paul Tudor Jones
Meaning: This trading quote highlights how important it is to diversify your portfolio. Never risk anything on just one trade.

61. “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have” - Paul Tudor Jones
Meaning: Another fine quote from Paul Tudor Jones on the importance of protecting what you have.

Inspirational trading quotes by Benjamin Franklin
62. “An investment in knowledge pays the best interest.” - Benjamin Franklin
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.

Inspirational trading quotes by Richard Branson
63. “Do not be embarrassed by your failures, learn from them and start again.” - Richard Branson
Meaning: While Richard Branson might not be a trader, his words speak a lot of truth. Learn from your mistakes and keep going.

Inspirational trading quotes by Sun Tzu
64. “He who knows when he can fight and when he cannot, will be victorious.” - Sun Tzu
Meaning: Another quote from outside the trading world. Essentially, by knowing when to trade and when not to trade, you will be successful.

Inspirational trading quotes by Ed Seykota
65. “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.” - Ed Seykota
Meaning: Losing a trade is not the end of the world. If you learned something from it, you still got something out of it.

66. “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
Meaning: Not all of your trades will be successful. Therefore, you can only become a good trader by learning how to minimise your losses.

67. “The trend is your friend until the end when it bends.” - Ed Seykota
Meaning: Wordplay on the famous phrase ‘the trend is your friend’. You need to remember that trends never last forever.

Inspirational trading quotes by Sami Abusaad
68. “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.” - Sami Abusaad
Meaning: A fine trading quote that once again illustrates the importance of understanding risks and how it relates to success.

Motivational trading quotes by Bruce Kovner
69. “If you personalise losses, you can't trade.” - Bruce Kovner
Meaning: Emotion has no place in the trading arena. If you want to trade, you need to remove it.

70. “I know where I’m getting out before I get in.” - Bruce Kovner
Meaning: A clever quote for entry and exit strategies. Before you start your strategy, you need to know where you’ll enter and exit.

Inspirational trading quotes by Tom Basso
71. “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.

Inspirational trading quotes by Justin Mamis
72. “Stocks are bought not in fear but in hope. They are typically sold out of fear.” - Justin Mamis
Meaning: An excellent quote about trader psychology. Many of the actions undertaken by novice traders and motivated by emotions.

Inspirational trading quotes by William O'Neil
73. “What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” - William O'Neil
Meaning: The market will often beat your expectations, but that doesn’t mean you should count on that happening!

74. “Letting losses run is the most serious mistake made by most investors.” - William O'Neil
Meaning: Once again, another inspirational trading quote highlighting how important reducing losses is to be profitable.

Inspirational trading quotes by Warren Buffett
75. “The market is a device for transferring money from the impatient to the patient.” - Warren Buffet
Meaning: The impatient will always lose out to the patient. Patience is one of the most valued skills you can have as a trader.

76. “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.” - Warren Buffet
Meaning: Intelligence is not always the most important thing about trading. There are a wealth of other factors at play.

77. “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” - Warren Buffet
Meaning: Another fine quote from Warren Buffet about emotions and making money trading.

78. “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” - Warren Buffet
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.

79. “Look at market fluctuations as your friend rather than your enemy.” - Warren Buffet
Meaning: Market fluctuations present you with opportunities to enter and exit the market, don’t be afraid of them.

80. “Profit from folly, rather than participate in it.” - Warren Buffet
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.

Inspirational trading quotes by John Maynard Keynes
81. “Markets can remain irrational longer than you can remain solvent.” - John Maynard Keynes
Meaning: An important reminder that market volatility can swallow your whole trading account if you’re not careful.

Inspirational trading quotes by Gerald M Loeb
82. “Accepting losses is the most important single investment device to ensure the safety of capital.” - Gerald M. Loeb
Meaning: If you fail to accept your losses and start chasing them instead, you’re putting all of your capital a risk!

Inspirational trading quotes by Seth Klarman
83. “The hard part is discipline, patience and judgement.” - Seth Klarman
Meaning: Trading is in a sense easy, but acquiring the skills to trade well can be difficult.

84. “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.” - Seth Klarman
Meaning: Your analysis will never be completely correct and it is important to recognise that.

Inspirational trading quotes by Tony Saliba
85. “I always define my risk, and I don’t have to worry about it.” - Tony Saliba
Meaning: The first step every trader should undertake before making a trade is to define their risk!

Inspirational trading quotes by Jim Cramer
86. “Hope is [a] bogus emotion that only costs you money.” - Jim Cramer
Meaning: Never base your trades on hope. Instead, they should be well-informed based on the information and analysis you have at hand.

87. “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.” - Victor Sperandeo
Meaning: Another fine trading quote about cutting losses. If you don’t, you’ll never be consistently successful.

Inspirational trading quotes by Linda Raschke
88. “All you need is one pattern to make a living.” - Linda Raschke
Meaning: The simplest patterns often reap the best rewards. If you can learn to use them you can make a living from trading.

89. “Sometimes the best trade is no trade.” - Unknown
Meaning: A well-known trading quote. You don’t need to trade all the time to be successful.

90. “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.” - Ifan Wei
Meaning: If you want to be a consistently successful trader, you need to work with patterns!

Inspirational trading quotes by Martin Zweig
91. “It’s ok to be wrong; it’s unforgivable to stay wrong.” - Martin Zweig
Meaning: A clever quote to remind you to learn from your mistakes.

Inspirational trading quotes by Sir John Templeton
92. “The four most dangerous words in investing are: This time it's different.” - Sir John Templeton
Meaning: It’s only ever different if you learned from your mistakes last time!

Inspirational trading quotes by Steve Burns
93. “There is a huge difference between a good trade and good trading.” - Steve Burns
Meaning: Anyone can make a good trade, but not everyone can be a consistently good trader.

Inspirational trading quotes by Rob Smith
94. “Buy things that are going up. Sell things that are going down. And when they stop, get out!” - Rob Smith
Meaning: Buying when low and selling when high is not enough. You also need to know the direction the instrument will move in.

Inspirational trading quotes by Jaymin Shah
95. “Don’t blindly follow someone, follow [the] market and try to hear what it is telling you.” - Jaymin Shah
Meaning: Never follow people’s advice without doing your own research. Your own research is always more valuable.

96. “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
Meaning: The market is never the same, it always changes. Every time you trade you need to reevaluate the situation looking for a favourable risk-reward ratio.

Inspirational trading quotes by Mark Harila
97. “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.” - Mark Harila
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.

98. “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.” - Van K. Tharp
Meaning: A great trading quote that sums up what a great trader needs. Most importantly highlighting learning from mistakes and having a plan.

Inspirational trading quotes by Joel Grenblatt
99. “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.” - Joel Greenblatt
Meaning: Being risky doesn’t pay off. What really pays off is researching what you’re trading and setting yourself goals.

Inspirational trading quotes by Scott Redler
100. “Traders need a daily routine that they love. If you don't love it, you're not gonna do it.” - Scott Redler
Meaning: A truly inspiring trading quote to remind you that you need a trading style that fits in

101. “Trade the market in front of you, not the one you want!” - Scott Redler
Meaning: Your trading strategy should reflect the reality of the market. You can’t just apply any strategy you like.
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While trading quotes can be taken out of context, and it is crucial to have a full understanding of what the trader meant at the time, they can also give traders important insights. I asked some of my followers for their favorite trading quotes. There were a lot of great suggestions, but here are the top 50 that I’d like to share.
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. I’ve known many [traders] who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine; that is, they made no real money out of it. [Traders] who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.” – Jesse Livermore
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
“Everyday I assume every position I have is wrong.” – Paul Tudor Jones
“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
“You can lose your opinion of you can lose your money.” – Adam Grimes
“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
“Cut your losses. Cut your losses. Cut your losses. Then maybe you have a chance.” – Ed Seykota
“Bulls make money, bears make money, pigs get slaughtered.”
“Take your profits or someone else will take them for you.” – J.J. Evans
“Beware of trading quotes.” – Andreas Clenow
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore
“There is a huge difference between a good trade and good trading.” – Steve Burns
“The market is a device for transferring money from the impatient to the patient.”- Warren Buffet
“Never let a win go to your head, or a loss to your heart.” – Chuck D.
“Some people make shoes. Some people make houses. We make money, and people are willing to pay us a lot to make money for them.” – Monroe Trout
“Only The Game , Can Teach You The Game” – Jesse Livermore
“Losers average losers.” (Sign in Paul Tudor Jones office).
“Trade the market in front of you, not the one you want!” – Scott Redler
“Trade What’s Happening…Not What You Think Is Gonna Happen.” – Doug Gregory @SharpTraders
“In trading the impossible happens about twice a year.” – Henri M Simoes @TraderHMS
“The trend is your friend – until it stabs you in the back with a chopstick.” – @StockCats
“He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu
“Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” – Bruce Kovner
“Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your butt.” – Paul Tudor Jones
“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” – Jesse Livermore
“A rising tide lifts all boats over the wall of worry and exposes bears swimming naked.” – @StockCats
“All you need is one pattern to make a living.” – Linda Raschke
“All the math you need in the stock market you get in the fourth grade.” -Peter Lynch
“5/1 risk/reward ratio allows you to have a hit rate of 20%. I can actually be a complete imbecile. I can be wrong 80% of time and still not lose.” – Paul Tudor Jones
“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.” – Brett Steenbarger
“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
“The trend is your friend until the end when it bends.” – Ed Seykota
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – @Sunrisetrader
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
“If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
In trading, everything works sometimes and nothing works always.”
“The market can stay irrational longer than you can stay solvent.” – John Maynard Keynes
“IF YOU WANT TO BE A LEDGE… FIND YOUR EDGE…” – Tom Dante @Trader_Dante
“By living the philosophy that my winners are always in front of me, it is not so painful to take a loss.” – Marty Schwartz
“Sometimes the best trade is no trade.” – Anonymous
“Hope is bogus emotion that only costs you money.” – Jim Cramer
“One day does not make a trend.” – Anonymous
“It’s OK to be wrong; it’s unforgivable to stay wrong.” -Martin Zweig
“Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager (paraphrase)
“Opportunities come infrequently. When it rains gold put out a bucket not a thimble.” – Warren Buffet
“Don’t fight the Fed.” – Marty Zwieg
“You’re going to learn a million things, then you need to forget them all and focus on one.” – @SunriseTrader
“The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
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1) The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
-Warren Buffett
2) If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.
-Bernard Baruch
3) 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.
-Jesse Livermore
4) Traders need a daily routine that they love. If you don't love it, you're not gonna do it.
-Scott Redler, Chief Strategic Officer of T3 Live
5) Our main job is to know when to embrace risk, and when to hold back.
-David Prince of T3's Inner Circle
6) You don’t make money by trading, you make it by sitting. It takes patience to wait for the trade to develop, 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
7) 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.
-Sami Abusaad, Head of Strategic Day Trader and Strategic Swing trader
8) We don't care about "why." Real traders only have the time and interest to care about "what" and "when" and "if" and "then."
"Why" is for pretenders.
-JC Parets, Founder of All Star Charts and Eagle Bay Capital
9) The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
-Paul Tudor Jones
10) "The biggest risk of all is not taking one."
-Mellody Hobson
11) Trading is not for the dabblers, the dreamers, or the desperate. It requires, above all, one steadfast trait – dedication. So if you are going to trade, trade like you mean it!
-Rod Casilli
12) Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.
-Albert Einstein, Theoretical Physicist & Nobel Prize Winner
13) 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.
-Ifan Wei, T3 Live Strategic Day Trader Room Moderator
14) You learn in this business... if you want a friend, get a dog.
-Carl Icahn
15) If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.
-Bill Lipschutz
16) The four most dangerous words in investing are: 'this time it's different.'
-Sir John Templeton
17) The most important three words in investing is: “I don’t know.” If someone doesn’t say that to you then they are lying.
-James Altucher
18) I always define my risk, and I don’t have to worry about it. I walk into the pit every day with a clean slate, so that I can take advantage of what is going on.
-Tony Saliba
19) A risk-reward ratio is important, but so is an aggravation-satisfaction ratio.
-Muriel Siebert
20) Never confuse your position with your best interest. Many traders take a position in a stock and form an emotional attachment to it. They'll start losing money, and instead of stopping themselves out, they’ll find brand new reasons to stay in. When in doubt, get out!
-Jeff Cooper, Author of the Daily Market Report
21) 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
22) People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences. Calamitous drops do not scare them out of the game.
-Peter Lynch
23) The whole secret to winning big in the stock market is not to be right all the time, but to lose the least amount possible when you’re wrong.
-William J. O'Neil
24) I think to be in the upper echelon of successful traders requires an innate skill, a gift. It`s just like being a great violinist. But to be a competent trader and make money is a skill you can learn.
-Michael Marcus
25) Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.
-Bruce Kovner
26) Price lies all the time. Facebook can be valued at $40 billion and then $20 billion and then $200 billion inside of a four-year period of time. Which of these prices is the truth? None of them. But all of them were momentarily true, until they were rendered a lie, and a new truth was forged in the fires of the marketplace. Sunrise, sunset. Prices change and, with them, the truth itself.
-Josh Brown
27) Markets can remain irrational longer than you can remain solvent.
-John Maynard Keynes
28) In trading you have to be defensive and aggressive at the same time. If you are not aggressive, you are not going to make money, and if you are not defensive, you are not going to keep money.
-Ray Dalio
29) 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.
-Van K Tharp
30) 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 Schwager
31)When the public is most frightened, only the strong are left, and that's when the market is in the best possible hands."
-Victor Niederhoffer, Legendary Trader & Money Manager
32) Your success in investing will depend in part on your character and guts, and in part on your ability to realize at the height of ebullience and the depth of despair alike that this too shall pass.
-John Bogle
33) To be a super-trader, you'll need an edge to overcome the laws of probability and the uncertainty of the marketplace. That edge comes from information flow, the ability to correct your habits in terms of the market's characteristics, and being able to take risks, cut losses, expand your information network, ferret out ideas, and take recommendations.
-Ari Kiev
34) I rarely think the market is right. I believe non-dividend stocks aren't much more than baseball cards. They are worth what you can convince someone to pay for it.
-Mark Cuban
35) The most important thing about an investment philosophy is that you have one.
-David Booth
36) Predicting the stock market is really predicting how other investors will change estimates they are now making with all their best efforts. This means that, for a market forecaster to be right, the consensus of all others must be wrong and the forecaster must determine in which direction-up or down-the market will be moved by changes in the consensus of those same active investors.”
-Burton G. Malkiel
37) As long as you enjoy investing, you’ll be willing to do the homework and stay in the game.
-Jim Cramer
38) The price of a commodity will never go to zero. When you invest in commodities futures, you're not buying a piece of paper that says you own an intangible piece of company that can go bankrupt.
-Jim Rogers
39) No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.
-Robert Rhea
40) Other people snap up the riskless profits pretty fast and bid the price of calculable risk opportunities to near their fair values. Things get a lot less crowded if you go for the incalculable risks, leaps of faith that cannot be inspected carefully before takeoff. So that is where you find extraordinary opportunities.
-Aaron Brown
41) There are old traders and there are bold traders, but there are very few old, bold traders.
-Ed Seykota
42) Panics do not destroy capital - they merely reveal the extent to which it has previously been destroyed by its betrayal in hopelessly unproductive works.
-John Stuart Mill
43) ...I tend to generate a plentiful supply of ideas, the vast majority of which turn out to be bad ones. In some cases, they involve transplanting computational techniques from one application to another, and there's usually a good reason why the destination field isn't already using that technique. I also have a remarkable capacity to delude myself into thinking that each idea has a higher probability of working than it really does, which provides me with the motivation I need to keep working on it. And, every once in a while, I stumble on an idea that actually works.
-David Shaw
44) History repeats because of the weakness of human nature. The greed for quick fortunes has cost the public countless millions of dollars. Every experienced stock trader knows that overtrading is his greatest weakness, but he continues to allow this weakness to be his ruin. There must be a cure for this greatest weakness in trading, and that cure is STOP LOSS ORDERS. The weakest point must be overcome and the stop loss order is the cure for overtrading.
-WD Gann
45) The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.”
-Philip Fisher
46) 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
47) I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.
-Richard Dennis
48) Trading is a psychological game. Most people think they are playing against the market, but the market doesn´t care. You’re really playing against yourself.
-Martin Schwarz
49) Value investing requires a great deal of hard work, unusually strict discipline, and a long-term investment horizon. Few are willing and able to devote sufficient time and effort to become value investors, and only a fraction of those have the proper mind-set to succeed.
-Seth Klarman
50) The goal of a successful trader is to make the best trades. Money is secondary.
-Alexander Elder
51) Successful investing is anticipating the anticipations of others.
-John Maynard Keynes
52) For better or worse we’re a herd leader. We’re at the front of the pack, we are one of the first movers. First movers are interesting; you get to the good grass first, or sometimes the lion eats you.
-David Tepper
53) Many investors make the mistake of buying high and selling low while the exact opposite is the right strategy to outperform over the long term.
-John Paulson
54) When a falling stock becomes a screaming buy because it cannot conceivably drop further, try to buy it thirty percent lower.
-Al Rizzo
55) Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.
-Arnold Schwarzenegger
56) Insider trading tells everybody at precisely the wrong time that everything is rigged, and only people who have a billion dollars and have access to and are best friends with people who are on boards of directors of major companies - they're the only ones who can make a true buck.
-Preet Bharara
57) Patterns of price movement are not random. However, they're close enough to random.
-Jim Simons
58) I have been trading for decades and I am still standing. I have seen a lot of traders come and go. They have a system or a program that works in some specific environments and fails in others. In contrast, my strategy is dynamic and ever evolving. I constantly learn and change.
-Thomas Busby
59) It's waiting that helps you as an investor, and a lot of people just can't stand to wait. If you didn't get the deferred-gratification gene, you've got to work very hard to overcome that.
-Charlie Munger
60) The right time for a company to finance its growth is not when it needs capital, but rather when the market is most receptive to providing capital.
-Michael Milken
61) The policy of being too cautious is the greatest risk of all.
-Jawaharlal Nehru
62) There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
-Larry Hite
63) And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.
-Martin Feldstein
64) In investing, what is comfortable is rarely profitable.
-Robert Arnott
65) The individual investor should act consistently as an investor and not as a speculator.
-Ben Graham
66) Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
-Paul Samuelson
67) We ignore outlooks and forecasts… we’re lousy at it and we admit it… everyone else is lousy too, but most people won’t admit it.
-Marty Whitman
68) You can’t be a good value investor without being an independent thinker – you’re seeing valuations that the market is not appreciating. But it’s critical that you understand why the market isn’t seeing the value you do. The back and forth that goes on in the investment process helps you get at that.
-Joel Greenblatt
69) When it comes to macro events, you can either predict or react. I’ve proven time and again that my crystal ball is horrible, so my focus has to be on reacting to extremes in individual securities by selling at high valuations and buying at low valuations.
-Bruce Berkowitz
70) One of my greatest complaints about forecasters is that they seem to ignore their own records. The amazing thing to me is that these people will go on making predictions with a straight face, and the media will continue to carry them.
-Howard Marks
71) It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.
-Robert Kiyosaki
72) I made a killing in the stock market. My broker lost all my money, so I killed him.
-Jim Loy
73) If there was a single lesson I took away from Salomon Brothers, it is that rarely do all parties win. The nature of the game is zero sum. A dollar out of my customer’s pocket was a dollar in ours, and vice versa.
-Michael Lewis
74) Greed is all right, by the way. I think greed is healthy. You can be greedy and still feel good about yourself.
-Ivan Boesky
75) Billionaire thinking means resisting the temptation to micro-monitor every tick in the market index. You’ll have a better chance of making a billion, and you might live a lot longer, too.
-Martin Fridson
76) I believe in analysis and not forecasting.
-Nicolas Darvas
77) 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.
-Randy McKay
78) 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
79) Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.
-Larry Summers
80) If all the economists were laid end to end, they'd never reach a conclusion.
-George Bernard Shaw
81) Remember, cash is a fact, profit is an opinion.
-Alfred Rappaport
82) Stock price movements actually begin to reflect new developments before it is generally recognized that they have taken place.
-Arthur Zeikel
83) It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.
-Robert J. Shiller
84) Speculation is an effort, probably unsuccessful, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money from becoming a little.
-Fred Schwed Jr.
85) How many millionaires do you know who have become wealthy by investing in savings accounts?
-Robert G Allen
86) If it’s obvious, it’s obviously wrong.
-Joe Granville
87) There is nothing riskier than the widespread perception that there is no risk.
-Howard Marks
88) The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of trades is the least important performance statistic and may even be inversely related to performance.
-William Eckhardt
89) The older I get, the more I see a straight path where I want to go. If you’re going to hunt elephants, don’t get off the trail for a rabbit.
-T. Boone Pickens
90) "I get real, real concerned when I see trading strategies with too many rules... you should too."
-Larry Connors
91) One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.
-William Feather
92) 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
93) The fundamental law of investing is the uncertainty of the future.
-Peter Bernstein
94) Anyone who is not investing now is missing a tremendous opportunity.
-Carlos Slim
95) I talk about macro themes a lot because they are fun to talk about, but it is the risk management that is the most important thing. The risk control is all bottom-up. I structured the business right from the get-go so that we would have lots of diversification.
-Michael Platt
96) Stocks Don't Move. They Are Moved
-Mr. Cooper
97) As a speculator you must embrace disorder and chaos.
-Louis Bacon
98) No price is too low for a bear or too high for a bull.
-Unknown
99) In today's regulatory environment, it's virtually impossible to violate rules.
-Bernie Madoff

A few small tweaks by FTMO/MFF, who knows..?

I discounted MFF's Accelerated Conventional account awhile ago but whilst I'm sat about churning my now 4 month old 100k eval phase one ()
I thought I'd take another look with slightly less cynical eyes:

For 50k in $ it's going to cost me $2450

Payout @ 50%

I need to make 10% to get my money back (probably take me 3 months). Now once I reach 10% MFF state they will double the account to 100k.
The next 10% will pay me $5k and the scale up goes up 1.5x then rotates 2x/1.5x etc.

So a 12 month period assuming I don't blow up:

Culmative earnings with scaling:

Start minus $2450
Q1 + $50
Q2 + $5000
Q3 + $12500
Q4 + $27,500

Cumulative earnings based 10% a quarter year 1, not that inspiring for a 40% PA trader but read on....

Assuming yet again you can make 10% per quarter and are scaled:

Year 2

Q1 + $50,000
Q2 + $95,000
Q3 + $162,500 This is now capped at $1,350,000 equity

So it will take 21 months and $162,500 in earnings to get to $1.35 M, actually not that bad if you have patience with the fat tail earnings model).

My only concern is MFF customer service and payout history (mine as you know has been terrible (including on live account).

What dya think? (Pipmaster your good at maths!).

To find your edge you need to be aware of common types of trading strategies when designing a strategy. I hope this helps you.


Here is also a comprehensive list of trading strategies in a scientific write up, as link and as file.

https://deliverypdf.ssrn.com/deliver...pdf&INDEX=TRUE

An essential read if you do or consider Forex trading, this kind of read is a must if you do not already know what it is about.
It is from Bradley Gilbert, Ex-Citibank Chief Foreign Exchange Trader in his pdf FX INSIDER with more than 20 years’ experience as a Marketmaker.

https://traders4traders.com/wp-conte...FX-Insider.pdf


It can help you to find your strategy and your edge, if you not already are making consistent returns every month on your funded account(s).

Well you can just start with the fact you pay $2450 for $2500 DD. When making 10% to scale it is 10%of the 50K so 5K. So essentially they are asking for 200% to double you to $5K DD. Put the $2450 in personal account and do 200%, you have $7500 and do not split with anyone. You can run the numbers from there. Remember, the equity number has no relevance whatsoever. I can say I'm giving you a $1 million dollar account for $2,450, if the DD is still $2,500, all of your risk is based on "what you can lose". If you are normally a 2% per trade risk, that 2% must be based on the DD, you have a risk of ruin of 50 trades. If you base it on the equity, you are done in 2.5 trades.There is no other way to spin it.
Once again, there is absolutely no benefit to these direct funding models.

Whats the story on Fundednext? Seems too good to be true 15% profit on Phase 1 and 2. Plus you get a refund after passing? Anyone tried them and got paid? A new company they just started last March I think...

Thank you, I missed the 5% OVERALL drawdown, what a crock of shit..

As I can recall all the futures prop firm have no favorable Drawdown rules, most of them are trailing in a kind. One exception I heard of but I am not 100% sure you need to look yourself is Earn2Trade as prop firm. They have one program with the most relaxed rules. But I would prefer to trade the corresponding CFDs on FTMO, they have good spreads, so the cost are not that much more than on futures. You can also consider in my opinion TrueForexfunds, I made good experiences so far with them. I am also considering The Funded Trader as prop firm but so far I did not join them so far. Futures only prop firms overall have worse rules than others offering CFDs.

thanks for the reply. By futures I meant mostly the corresponding CFDs as I did not even know there are futures only prop firms. I saw that some are offering only Forex and maybe gold
I'll look into TFF for sure, E2T as well

Wow, I should NEVER have to post about direct funding again. That is an excellent illustration. This can be applied to the 5%ers, CTI or any direct funding model you wish. When one comes around where the DD is 3x or better the fee I pay and they double me everytime I make 50% of the DD allowed, I will definitely have a look.

Don't go with FIDELCREST. They will keep thinking all sorts of ways to take you out. That prop firm is a SCAM.

Don't trust the review on Trustpilot. I don't know how they are able to do it. But they managed to make a new Fidelcrest company there and renamed the old one. If only you can find the old review about Fidelcrest. There are lots of complaints about them.

https://www.federalreserve.gov/live-broadcast.htm

or here as backup


In the meantime I am listening now
https://www.bloomberg.com/live/europe
The first half an hour on every day is free.
They are quite fast when it comes to news on the TV channel.

I am only aware of one member here, Doji, who has taken the plunge with them. Last I heard, customer service was great but platform was unstable, almost seemed intentionally according to Doji.

Thanks for all the replies. Now I'm balancing between True Forex Funds and The Funded Trader
Both allow trading during news which I don't really need but it's nice to have one less rule to keep in mind. Both have 0 minimal trading days which I like.
Trading just to fill in the days is tedious and I'd rather spend the time making money or something else...

True Forex Funds
- can't trade for days after requested profit split
- 80% split
+ recently changed the broker and have good spreads and commissions

The Funded Trader
+ split up to 90% with crypto as per webpage
? broker is Purple Trading, from what I read on the internet is seems OK
- I read some complains about their customer support in Discord

@TrAndy1 do you have any recent experience with withdrawals from TFF?

-Sorry to say, but I have posted this image before... in this same thread... so the outlook does not look good.

I remember watching an interview with MFF founder talking about this program. He said that when he told people about it, they said that it sounded too good to be true. That's because it is... but for MFF... not the trader.

If I recall, MFF was the first to bring this kind of model to the scene. I honestly question whether or not they realize just how terrible it is. If they do, then that should cause some pause for traders.

I can understand the need to offer lower-cost or lower, barrier-to-entry options, but this model needs to be revisited so that it can actually benefit the trader over the long-term, especially once traders have proven themselves to be consistent.

MFF spoke about making changes to this model last year, but that has yet to come to fruition. However, I have doubts about whether or not they will make the kind of big changes that are needed. Now, many firms have copied this model and so many traders are signing up without giving much thought to the math.

My advice is to give them a miss. I tried to folow doji and start with a 15k account when they were offering a discount coupon "EID22". When I tried to apply the coupon a red box came up "coupon not valid"!!

I have been trying to get hold of them about it - their webchat is a complete waste of time and their support doesn't answer your emails. The question is, what happens when you get funded and you're trying to get a payout?