Looking at trading quotes from the greats is one of the best ways to look at the market as a whole, and see how they played out over the decades.
Earning reliable profits in trading is harder than it looks at first glance. In fact, unofficial estimates suggest that more than 80% of the traders eventually fail, washout, and subsequently turned to safer investment. In reality, the washout rate could be much higher than 80%.
The fact is success in trading is difficult and the consistently profitable traders share specific rare characteristics.
Classic rules from pro traders can help keep a sharp focus on long-term profitability.
It is by now a well-known fact that success in trading is all about discipline rather than about getting your calls right. Trading in stocks is not rocket science.
Today we will look at 30 of the best trading quotes of all time, which can keep us motivated in turbulent times. These 30 trading quotes are tips that long-time pros use to stay in the winner’s circle.
Here are our 30 Best Trading legends Quotes ever for Trader and Investors:
I learned early that there is nothing new in Wall – Street. There cannot 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
Take away points from legends to follow for successful trading and investing :
- Remember that stocks are never too high for buying and too low for selling.
- 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.
- 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 go for a break from trading and calm down your emotions.
- If you can’t sleep at night because of your position, then you have gone too far.
- Even professional traders have a winning rate of 50-60%. It’s not the winning rate that determines the success of a trader – it’s the amount of profits that the trader makes relative to his or her losses.
- Never take losses personally.
- As traders, the most important thing is to preserve our trading capital at all times. Only then should we think about profits and making money.
- Trading is not all about making money and a regular income. There are no guarantees in trading.
- Intraday trading is full of market noise and over-reaction to the news. Sentiment can change quite fast many times on intraday.
- Most people lose money in trading because they take decisions in a random manner. In fact, traders can be a lot more successful in the equity markets by following some basic trading rules and discipline.
- Having a break from trading will make you a better trader.
- The best traders are never right all the time.
- The market will often beat your expectations.
- Not taking the loss in the initial stage, that is what does most damage to the capital account and the confidence.
- Before you enter a trade, if you have a concrete risk management plan as part of your trading strategy, you should not sit by and worry as the trade develops.
- without the right mindset and risk management skills, many things can go wrong.
- Trading is not getting rich quick scheme.
- The hard reality of trading is each trade has an uncertain outcome.
- Great traders aren’t born or made overnight. It takes hard work, patience, discipline, and consistency to master the art of trading.
Taken together, these quotes and their sources teach us that learning to trade successfully takes time and needed a high level of dedication and discipline. The road to success is paved with failure.