50 Great quotes about trading, market, finance and life philosophy of traders by Daimon Traders Blog
Life is either a daring adventure or nothing.
Helen Keller
First of all you must keep well in mind that a complete trading system covers each of the decisions required for successful trading, that is:
Markets – What to buy or sell
Position Sizing – How much to buy or sell
Entries – When to buy or sell
Stops – When to get out of a losing position
Exits – When to get out of a winning position
Tactics – How to buy or sell
Daimon Traders
To be a trader or an investor first you must have some money (a lot is better), and then you should learn and practice some financial activities. The problem arises if you don’t have money, then what you necessarily need is vast knowledge and great skilfulness. In any case you must be very very careful, because the market is always there, ready to fuck you! Alternatively, if you are still young, you might try to become a manager, and consequently get rich working hard and earning a lot, so that you can afford some professional financial advisors.
Carl William Brown
The market does not know you exist. You can do nothing to influence it. You can only control your behavior.
Alexander Elder
The most important thing about making money is not to let your losses get out of hand!
Marty Schwartz
The quality of a person’s life is in direct proportion to their commitment to excellence, regardless of their chosen field of endeavor”
Vince Lombardi
The rich are those who play to win. The middle class plays not to lose.
Robert Kiyosaki
It is essential to wait for trades with a good risk/reward ratio. Patience is a virtue for a trader.
Alexander Elder
Be patient! Patience is one of the key ingredients to reaping large profits. It can be very difficult to sit idle when I am surrounded by all the action of the market, yet sometimes the best course of action is to do nothing at all. I make far more money when I wait for the best set-ups, wait for the best entries, and wait for the best exits.
Gregg aka LX21
Be true to the game, because the game will be true to you. If you try to shortcut the game, then the game will shortcut you. If you put forth the effort, good things will be bestowed upon you. That’s truly about the game, and in some ways that’s about life too.
Michael Jordan
As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.
Robert Kiyosaki
It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Warren Buffett
Remember it takes volume to move stocks, so start getting to know your stock’s volume behavior and then how it reacts to spikes in volume. You can see these spikes on any chart. Volume is the key to your stock’s movement and success or failure.
Dan Zanger
Swing trading is a good fit for a minority of the population. It involves tremendous amounts of responsibility. You must rely on yourself and can’t be reckless or prone to gambling. If you’re not disciplined, you may end up with no income (or worse).
Omar Bassal
It pays to write down your plan. You need to know exactly under what conditions you will enter and exit a trade. Do not make decisions on the spur of the moment, when you are vulnerable to being sucked into the crowd. Plans are created by reasoning individuals. Impulsive trades are made by sweaty group members.
Alexander Elder
To do the job right requires such an enormous amount of concentration. It’s physically and emotionally mandatory that you find some time to relax. And you’ve got to be able to turn it off like that. There will be times though that I get so incredibly excited about a trade or even a project that I’ll wake up at 4 o’clock in the morning and there’s no way in hell that I’m going back to sleep. I’ll sit there in my dreams and trade for four hours.
PTJ
Michael [Marcus] taught me one thing that was incredibly important… He taught me that you could make a million dollars. He showed me that if you applied yourself, great things could happen. It is very easy to miss the point that you really can do it. He showed me that if you take a position and use discipline, you can actually make it.”
Bruce Kovner
I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out; if they are going for me, I keep them.
Paul Tudor Jones
The concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE’s?
Paul Tudor Jones
Perseverance is the hard work you do after you get tired of doing the hard work you already did.
Newt Gingrich
Do not strive for things occurring to occur as you wish, but wish the things occurring as they occur,
and you will flow well.
Michael W. Covel
Speculation is far too exciting. Most people who speculate hound the brokerage offices… the ticker is always on their minds. They are so engrossed with the minor ups and downs, they miss the big movements.
Jesse Livermore
If you limit your actions in life to things that nobody can possibly find fault with, you will not do much.
Charles Dodgson
There are a million ways to make money in the markets. The irony is that they are all very difficult to find.
Jack D. Schwager
Investment banks are pyramid schemes controlled by the upper class.
J.P. Morgan
It is impossible to predict with any certainty how the overall stock market will behave. This is why there is so much risk associated with this form of investment. That is why if you are not a professional trader you must wait for the good chance of your life!
Carl William Brown
There are old traders; and there are bold traders; but there are no old bold traders.
The Turtles
Experience is that marvelous thing that enables you to recognize a mistake when you make it again.
Franklyn P. Jones
Media, the plural of mediocrity.
Jimmy Breslin
When the bull market ended in 2000, so did many traders’ accounts.
Daimon Traders
I want to trade successfully in the short period, I am not interested in keeping a stock for years, since in the long period we will be all dead, and I am not so young anymore! I obviously know that doing like this I loose some very good opportunities!
Carl Wiliam Brown
A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does damage to the pocketbook and to the soul.
Jesse L. Livermore
It’s human nature when you lose money quickly you want to make it back twice as quick. Slow down, keep focused, and stick to your strategy.
Ian Cassel
All our life is nothing but a stupid trade, a poor bet, and in the end we are going to loose the whole capital, if any!
Carl William Brown
Go boldly after what you want and expect some setbacks, some disappointments, and some rotten days. Embrace them all as a valuable part of the process and learn to say, Thank you, teacher.
Mark Minervini
All our life is nothing but a stupid trade, a poor bet, that’s why you must learn a lot about trading and stupidity!
Carl William Brown
I always believe that prices move first and fundamentals come second.
Paul Tudor Jones
It is not that we had any unfair knowledge that other people didn’t have, it is just that we did our homework.
Paul Tudor Jones
The ability to cut a loss while it’s small is a core trading skill.
Steve Burns
Don’t judge each day by the harvest you reap but by the seeds that you plant.
Robert Louis Stevenson
Determine to become one of the best… Sufficient money will almost automatically follow if you get to be one of the “best” in your chosen field, whatever it is.
Don G Mitchell
Whenever I have had the patience to wait for the market to arrive at what I call a Pivotal Point before I started to trade; I have always made money in my operations.
Jesse Livermore
Achievement is not always success, while reputed failure often is. It is honest endeavour, persistent effort to do the best possible under any and all circumstances.
Orison Swett Marden
Decrease your trading volume when you are trading poorly; increase your volume when you are trading well.
Paul Tudor Jones
I usually ignore advice from other traders, especially the ones who believe they are on to a “sure thing”. The old timers, who talk about “maybe there is a chance of so and so,” are often right and early.
ED sykota
Fundamentalists figure things out and anticipate change. Trend followers join the trend of the moment. Fundamentalists try to solve their feelings. Trend followers join their feelings and observe them evolve and dis-solve.
ED sykota
My goal is to finish each day with more than I started.
Paul Tudor Jones
Most men fail, not through lack of education, but from lack of dogged determination, from lack of dauntless will.
Orison Swett Marden
A good system may be able to trade more markets effectively than a good trader because it has the advantage of unlimited computing power.
Paul Tudor Jones
The speculator’s chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation, when the market goes against you, you hope that every day will be the last day-and you lose more than you should had you not listened to hope.
Jesse Livermore
There is a time to go long. There is a time to go short. There is a time to go fishing.
Jesse Livermore
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.
Linda Bradford Raschke
The position size on a trade is determined by the stop, and the stop is determined on a technical basis.
Bruce Kovner
To find out more about trading and finance you can also read:
50 Famous Quotes by Jesse Livermore
Jesse Livermore trading lessons
