Motivation Zone - Share what/who motivates you

Here are quotes from successful traders, whom I admire and follow closely. I get lot of inspiration from reading these. Thought I would share these in this blog.

 

1. Most people like to be smart and show how good they are at catching the top or bottom. I LIKE MAKING MONEY.

1. We all have the same tools, the only difference is I keep my emotions under control, NO MATTER WHAT, if I get excited or feel anything about what is on my screen then, I am not IN CONTROL.

1. At this level, trading is just a thing and I know that I am going to have wins and losses and it does not matter AT ALL. I have no fear ever on any trade because how can you fear what you cannot control or predict, it's just stupid but we are wired from 1000's of years ago when fear = death. You should have fear if your house is on fire, or if you are about to get smashed by a 60k pound truck at a stoplight, you should NEVER fear this dumb market.

1. If you fail at something the 1st time do you jump off the roof or do you control your emotions and try to understand what is going on.

1. Stop being the market whore and taking everything that gets thrown in front of you. Do some back testing and see what works most of the time and trade the good trades, right now your just taking everything all the time.

1. LOL, look at the trend! Why do you think it's going to start going up? Because you want it too? If you are going 60mph in a car and I jump out in front of it do you think it will stop because. I want it too?

1. Got 3 messages so far today about "I can't make money with your system" hell I did not even know I had a system, it's just the way I trade.

1. What surprised me about it all is that it takes time to recognize 'issues'. Reading a book is great, but until that 'moment' happens, nothing is really clear.
2. Just like the "I want to lose 10 pounds" deal, everyone knows to eat less, 3500 cals = 1 pound right? They start out good then they slip a little then say screw it and hit the all you can eat place LOL. Trading is the SAME way, it's sticking to the plan and not hitting that BUFFET.

1. Once you get the emotion out of it a trade is just that, one trade. After taking 10K+ trades I can be down 10-15k on the day and it does not matter because, I have done this so much I know my money, just like the market, does not go up or down in a straight line.

1. Who cares if it's a good or crazy plan, but it's a plan. We need to have one.

1. Have plan, trade your plan... Don't ask your friends what to do, THEY'LL ALMOST ALWAYS ARE WRONG. This is YOUR Business, you have to know when to strike!

1. It comes with practice and can't be really learned by watching. You need to trade to get confidence. Contrary to popular believe, I don't agree that demo helps. Well, maybe helps you to get used to the new mouse, you just bought, but does nothing to make the psychology your friend... Off course, this is just my opinion, tested in battles.

1. Although many have eyes, some don't use them towards their advantage... It's okay though. Some people will never learn how to dance or sing others will never learn how to trade profitably. We're not created equal, as some would want us to believe... No matter how hard I tried, I could never sing...

1. When you have a good plan and spend enough time watching charts, things materialize in front of your eyes and you're already in. Now it's time for the crowd to follow.

1. Those who mastered making money in the sideways moving markets are very good and consistent traders. Any kid can make money when market is trending.

1. Picking probabilities. Sometimes you win, sometimes you lose. If you have the edge, you ARE marching forward.

Some more quotes from successful traders, whom I admire and follow closely:

 

1. We might not make profit from the opportunities that we miss, but we can certainly learn from them all, and that in itself is valuable.

1. We are all humans (at least most of us) and make mistakes, but failure to learn from them is a poor excuse of a human being.

1. Focus on doing what is right – instead of being right

1. I never think of what happens after because it doesn't matter to me. We are not in a competition. We just need to take our income from the market according to our plan.

Some inspirational quotes:

There is no such thing as failure. There are only results

The key to realizing a dream is to focus not on success but significance - and then even the small steps and little victories along your path will take on greater meaning.

The thing always happens that you really believe in; and the belief in a thing makes it happen. Never give up your dreams, no matter what they'll tell you.

It doesn’t matter where you start, what matters is where you end up.

It does not matter how slowly you go as long as you do not stop.

A creative man is motivated by the desire to achieve, not by the desire to beat others.

Setting goals is the first step in turning the invisible into the visible.

My intent is simply to know my material so well that I'm very comfortable with it. Confidence, not perfection, is the goal.

If you are not criticized, you may not be doing much.

I hated every minute of training, but I said, "Don't quit. Suffer now and live the rest of your life as a champion."

In order to succeed, your desire for success should be greater than your fear of failure.

Experience enables you to recognize a mistake when you make it again.

Only he who does nothing makes no mistakes.

Confidence comes not from always being right but from not fearing to be wrong

Aerodynamically the bumblebee shouldn't be able to fly, but the bumblebee doesn't know that so it goes on flying anyway.

A ship in harbor is safe, but that is not what ships are built for.

If you know the enemy and know yourself, you need not fear the result of a hundred battles.

Fall seven times; stand up eight.

Failure is only the opportunity to begin again more intelligently

Inspirational Quotes:

 

1. 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.

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

1. If you must play, decide upon three things at the start: the rules of the game, the stakes, and quitting time.

1. We might not make profit from the opportunities that we miss, but we can certainly learn from them all, and that in itself is valuable.

1. My intent is simply to know my material so well that I'm very comfortable with it. Confidence, not perfection, is the goal.

Read this on one of traders blog and thought I would share it here:

Markets some days are very structured and its simple to find a point and get involved and someday its a bit hard... Price behavior changes. What differentiate a great trader from a good trader is to acknowledge that and act accordingly. Some times there simply is no trade and when there is a trade and you have done your hard work and due diligence then there should be no stopping you . You should trust your self and your analysis and think to your self "if the same setup was presented to me would I take it 10 times " if the answer is "YES" then close your eyes and take a deep breath and shut out all the noise and trade your PLAN. There is no money to be made sitting on fence."

"And those who were seen dancing were thought to be insane by those who couldn't hear the music."

"There are no facts, only interpretations"

"Only way to make it in this game is to forget about everyone else's opinions & look @ market thru your own eyes"

Jesse Livermore

Here is something interesting I read on twitter.

Why is that many traders will take a trade with a 100 tick target, get 95 ticks up, move to breakeven and do nothing else because its a free trade

Yet if you told them to get out and take a new position with a 5 tick target and a 95 tick stop they will say "Are you out of your mind?"

The point is you have to be flexible in your profit expectations and assess your R/R not only at the time of entry, but also when the trade is running.

Confidence comes from hard work, practice and experience (#277)

Trading is NOT about re inventing the wheel, you got to find new ideas and remove all the unnecessary and keep what's useful. Simple is always the best, but you must not confuse simplicity with ignorance. Knowledge is power.

Motivation involves too much emotions; not good at Trading.

So true.

Thanks for sharing

You misunderstand what motivation is as an emotion
There should be no fear or greed or emotions that have negative effect on trading
Motivation is the emotion of wanting to do well and breaking it down in managebale steps

Anyway all the best

Continuous profits will motivate me a lot to go deep into trading and trade for life. Till that time I need to keep trying to be successful.
Try,Try and Try till you succeed. failure is the road to success.
All good and experienced traders here can help me find the correct path to success.
I am hoping for help on this forum to implement ideas that I have.