Classic Trading Quotes

Hello,

Very good and inspiring and intelligent and educating.

Keep it up.

Regards,
Vijay Nair

Thanks all for good wishes,
here are some more.....
I have named this quotes set in my database as "Imbibe these in you" . i hope to atleast imbibe 10% of these in me....
I had actually given the source URL from which i collect it daily but, for some reason traderji decided to censor it...
anyway i can post one each day or collect them & post at the end of a week..


The best traders I know are really quite brilliant, and they all work very hard - much harder than anyone else. By the way, when I talk about working hard, I mean commitment and focus: it has nothing to do with how many hours you spend in the office. These traders have tremendous commitment to the markets - to their craft so to speak. They develop scenarios, reevaluate scenarios, collect information and reevaluate that information. - BILL LIPSCHUTZ


We all go through periods when we’re out of sync with market. When I’m doing things correctly, I tend to expand my rate of involvement in the market. Conversely, when I start losing, I cut back my position size. The idea is to lose as little as possible while you’re in a losing streak. Once you take a big hit, you’re always on the defensive. In all the months I lost money, I always ended up trading small - sometimes trading as little as 1 percent of the account. - VICTOR SPERANDEO

You have to be able to think clearly and act decisively in a panic market. The markets that go wild are the ones with the best opportunity. Traditionally, what happens in a market that goes berserk is that even veteran traders will tend to stand aside. That’s your opportunity to make the money. - MARK RITCHIE


Trade infrequently and only when you have a strong idea. Trade the opposite side of the predominant news stories. Time your trade to coincide with an event that has the potential to lead to a panic climax. These are my three rules for directional trading. - BLAIR HULL

The key to know is to when to do nothing and sit idle in the market. One needs to have a lot of patience to sit idle and be very disciplined about it. Most people know but will not follow this because they lack discipline. For example, everyone knows how to lose weight; you eat less fat and exercise more. So why are most people overweight. Simply because they lack discipline.

Trade aggressively when you are confident. There is no point in being confident and having a small position. There are few occasions when one is very strong about a stock and these are the times when one should capitalize on it. Increase your bets when you are confident and scale down your positions when you don’t have conviction. - GEORGE SOROS

There is nothing worse than a bad trading day. You feel so low that it is difficult to hold your head up. But, if I knew that I could also have a similar experience in the exhilaration of winning, I would take the combination of winning and losing days any time because you feel that much more alive. Trading gives you an incredibly intense feeling of what life is all about. Emotionally, you live on the extremes. - PAUL TUDOR JONES

There is a very important difference between being a theoretical contrarian and dealing with it in practical terms. In order to win as a contrarian, you need the right timing and you have to put on a position in the appropriate size. If you do it too small, it’s not meaningful; if you do it too big, you can get wiped out if your timing is slightly off. The process requires courage, commitment, and an understanding of your own psychology.

The biggest misconception the general public has about the marketplace is that in order to make money the market has to go up. You can make money in any kind of market if you use the right strategies. With futures, options and the underlying markets, there are enough tools available to set up a game plan for any situation. - TONY SALIBA

Never, ever, follow conventional wisdom in the market. You have to learn to go counter to the markets. You have to learn how to think for yourself; to be able to see that the emperor has no clothes. Most people can’t do it. Most people want to follow a trend. “ The trend is your friend.” Maybe that is valid for a few minutes in Chicago, but for most part, following what everyone else is doing is rarely a way to get rich. You may make money that way for a while, but keeping it is very hard. - JAMES. B. ROGER, Jr.

My transformation from a losing trader to a winning trader took place when I was able to separate my ego needs from making money. Before, admitting I was wrong was more upsetting than losing money. I used to try to will things to happen. I figured it out, therefore it can’t be wrong. 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 money and go on to the next trade.” By living the philosophy that my winners are always in front of me, it is not so painful to take a loss. If I make a mistake, so what!

My ability to win a high percentage of the time is because I have a real fear of markets. I have found that the greatest traders are the ones who are most afraid of the markets. My fear of the markets has forced me to hone my timing with great precision. When I am trading properly, it is like a pool player running racks. If my gut feel of market conditions is not right, I don’t trade. My timing is a combination of experience and my nervous system. If my nervous system tells me to get out of the position, it is because the market action triggers something in my knowledge and experience that I have seen before. - MARK WEINSTEIN


I don’t lose much on my trades, because I wait for the exact right moment. Most people will not wait for the environment to tip itself off. They will walk into the forest when it is dark, while I wait until it gets light. Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure that it can catch its prey. It will wait for the baby antelope, and not just any baby antelope, but preferably one that is also sick or lame. Only then, when there is no chance it can lose its prey, does it attack. That, to me, is the epitome of professional trading. - MARK WEINSTEIN


Risk control is the essence of my trading style and success. I never think what I might make on a given trade, but only what I could lose. I mentally mark each of my positions to market. No matter how large a profit I may have in a position, in my mind my entry price is always the previous night’s close. This approach allows me not to get complacent about my positions. - PAUL TUDOR JONES

One of the best ways to increase profits is to do goal setting and visualizations in order to align the conscious and subconscious with making profits. I have worked with a number of traders in order to examine their priorities and align their goals. I use a combination of hypnosis, breathing, pacing, visualization, gestalt, massage, and so forth. The traders usually either 1) get much more successful, or 2) realize they didn’t really want to be traders in the first place. - ED SEYKOTA


The secret to good trading is cutting down the number of trades you make. The best trades are the one in which you have all three things going for you: fundamentals, technicals and market tone - Michael Marcus

The purpose of technical analysis is not to be able to accurately identify each and every market position all of the times. The real objective of technical analysis is to find those trading opportunities that have a high probability of success.

Never give up on a trade. Many traders who are in a losing trade will just get out because they were taught that you have to have discipline. Great. Those traders will always be around. But if they just had some patience and said, “ Yes, it is going to be a losing trade, but instead of getting out here at 7, maybe if I wait and just sweat it out for another minute, I can sell at 10. - TOM BALDWIN

All successful traders do their homework every night not allowing leisure or other business from interfering with their daily regimen of market analysis. Whenever I stray from this discipline, I usually end up giving a lot of money back to the market. For many people, the concept of a great trader conjures up an image of someone using a shoot-from-the-hip approach, moving in and out of markets with agility and a near sixth sense. The reality is far less glamorous. In the majority of the cases, exceptional traders owe their success to hard work and preparation. – TONY SALIBA

Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars. – BERNARD BARUCH

Great compilation Sanjay. Looking forward to mre such stuff

masterjee

Great quotes!

Here is a nice little one liner from Richard Wyckoff

A stock market operator must be as hard-boiled as a five-minute egg; cold-blooded as a fish; deaf to all gossip; blind to news, and dumb as a door knob when it comes to discussing the market with others


CV

The strength of a trader is in the fact that he knows the weakness of the others.

A trader needs to be like a researcher in an unexplored forest studying a newly discovered wild animal. Eager to learn, searching for the truth, curious as to what will happen next, intent on observing habits and patterns, looking without preconceived opinions or fear.



CV

Hi CV,

Well said!
Very soon I will be eaten by a wild animal in search of a discovery

Regards,
a$h.investor

Some cool quotes----thnx Sanjay!

Anu

Contrary to what 99 percent of the investment population thinks, trading is not about being right. Being right is easy. Trading is about being wrong; and navigating this inevitable occurrence distinguishes the winners from the losers in the long run...The road to riches is littered with the bodies of those who believed that being right required conviction and stamina...but the line between conviction and stubbornness is at best vague - Fari Hamzei


CV