Some Good Trading Psychology Quotes

[Soultrader 12]

Feel free to add more

 

"To be a successful trader/investor, your intellect and emotion must work as a team, which is easier said than done." - James Dalton from Markets In Profile -

[wsam29 10]

damn, I have too many to list.

 

But those two in my signature are my favourite.

[Anonymous 11]

The trinity of successful trading:

 

1. A trader must accept loss.

 

2. A trader must accept the uncertainty of the results of any given trade.

 

3. A trader needs to think in terms of overall probabilities. (Trade for expectancy not accuracy.)

 

" Successful traders accept and expect losses. Losses are endemic to trading; they are the cost of doing business. The consistently successful trader accepts deep in his heart that his winnings will be tempered with inevitable loss. But the trader anticipates his ultimate triumph because he has structured the probabilities in his favor".----LBR

[trader273 10]

The best, at least I think, quotes come from Jesse Livermore. I uploaded all the quotes that I found meaningful.

Reminiscences of a Stock Operator Quotes.doc

[GCB 10]

• Assumption 1: We have not learned everything there is to know.
  
• Assumption 2: What we have learned, unwittingly or by choice, may not be very useful with respect to fulfilling ourselves in some satisfying manner.
  
• Assumption 3: What we have learned that is useful and works to our satisfaction is still subject to change because of changing environmental conditions.

"If you operate out of the foregoing assumptions, you will begin to recognize how every moment becomes a perfect indication of your state of development and what you need to do to improve yourself.

 

"When we refuse to acknowledge or accept the perfection of each moment in our lives, we deny ourselves access to the infomation that we need to expand ourselves. Any skill that we need to learn to express ourselves more effectively has a true starting point. To find that true starting point requires our acceptance of each outcome as a reflection of the sum total of who we are so that we can first indentify what skill needs to be learned and how we might go about the task of learning it. Without this true starting point, we will operate from a base of illusion. " Mark Douglas -- The Disciplined Trader

[TinGull 10]

"Go for it now. The future is promised to no one"

"Conflict can not survive without your participation"

"Everything you are against weakens you. Everything you a for empowers you"

 

- Dr Wayne Dyer

[brownsfan019 17]

It's not timing the business, it's time in the business.

[GCB 10]

"To be a successful trader you need to trade without fear. When you use fear as a resource to limit yourself, you will create the very conditions you are trying to avoid. Or to say this another way, you will experience your fears." Mark Douglass -- The Disciplined Trader

[Soultrader 12]

"The man who insists upon seeing with perfect clearness before he decides, never decides." - Henri-Frederic Amiel -

[Guest KhurramNaik]

Here are some novel ones:

 

“...to be a successful trader, I must love to lose money and hate to make

money...The first loss is the best loss; there is no better loss than the first

loss…Trading is a discipline.”

From EEK, (memoirs of CBOT member Everett Klipp (1995)).

 

“One of the critical criteria I use in judging my traders is their ability to take a

loss. If they can’t take a loss, they can’t trade.”

John Mack, Morgan Stanley CEO, in a 1991 deposition.

 

“If you have bad inventory, mark it down and sell it quickly.”

Attributed to Bear Stearns Chairman Alan “Ace” Greenburg, describing

his penchant for quickly selling losing trades, in the Wall Street Journal (“If Wall Street were Olympian, He’d Ace the Marathon,” March 8, 1999).

 

“...so, as our discipline requires, we sold.”

J. Stowers, CEO, American Century Funds, in a 12/10/97 letter to investors.

 

“Never meet a margin call. (In other words, if the market is going against you,

concede defeat quickly and liquidate before you really lose your shirt.)”

James Grant, editor, Grant’s Interest Rate Observer, quoted in

BusinessWeek (“Failed Wizards of Wall Street,” September 21, 1998).

[walterw 10]

"Enjoy your work" walterw

[Soultrader 12]

"Find the job that you love and you will never work the rest of your life."

 

I think it was Confucious

[GCB 10]

"Whatever it is you are feeling is the perfect reflection of what is in the process of becoming." -- The Secret

 

"What you think and what you feel and what manifests is always a match." -- The Secret