Quotes About Trading

Everyone who trades ends up learning something about the markets; very few people who trade ever learn the attitudes that are absolutely essential to becoming a consistent winner.

Taking responsibility means acknowledging and accepting, at the deepest part of your identity, that you—not the market—are completely responsible for your success or failure as a trader.

you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game.

The fact is that if traders really believed that anything could happen at any time, there would be considerably fewer losers and more consistent winners.

Ultimately, for this process to work, you must choose consistency over every other reason or justification you have for trading. If all of these ingredients are sufficiently present, then regardless of the internal obstacles you find yourself up against, what you desire will eventually prevail.

So if you are afraid of being wrong or losing money, it means you will never learn enough to compensate for the negative effects these fears will have on your ability to be objective and your ability to act without hesitation.

Funny, but after trading for more than 15 years, I still am capable of forgetting a cardinal rule: The paper you own, in the end, will be intertwined with the fate of the 30-year bond.

If you don't follow the stock market, you are missing some amazing drama.

Fifteen years ago, this would have been insider trading, but that quaint concept had disappeared a decade or two ago when so many brokers were doing it that it was impossible to jail them all. Now it was called smart trading.

What goes on in Europe concerns us greatly because, if Europe comes apart, the E.U. comes apart, then you're going to have enormous impact on America, that's a very big trading partner of ours, and people own securities around the world in this day and age.

The men on the trading floor may not have been to school, but they have Ph.D.'s in man's ignorance.

books about options, more than likely Natenberg's book Option Volatility & Pricing: Advanced Trading Strategies and Techniques (McGraw-Hill, 1994)

How much of a role does luck play in trading? In the long run, zero. Absolutely zero. I don't think anybody winds up make money in this business because they started out lucky.

We're trying to exploit people's reaction, which is embedded in prices and leads to trends.

Clarifying trading and risk management systems until they can translate to computer code.

These classic Donchian trading rules were first published over 75 years ago: General Guides Beware of acting immediately on

Our job is to systematically sift price data to find trends and act on them and not let the latest news flashes sway our market opinions.46

Keep down your losses—never let them get away from you. Let your profits take care of themselves.'"6

The aim is to make money, not to be right

The players who score the most runs are home run hitters, not those with consistent batting records. "It's the same with trading. Consistency is something to strive for, but it's not always optimal. Trading is a waiting game. You sit and wait and make a lot of money all at once. The profits tend to come in bunches. The secret is to go sideways between the home runs, not lose too much between them."12

He took delight in boasting, in contrast to most traders who got up early to read all they could from weather reports to daily Department of Agriculture assessments, that he stayed in bed until the last minute before getting to the exchange just as trading started.

commodities, currencies, interest rates, credit, and equities.1

The best place to live on this curve is the spot where you can deal with the emotional aspect of equity drawdown required to get the maximum return. How much heat can you stand? Money management is a thermostat—a control system for risk that keeps your trading within the comfort zone. Gibbons Burke5

33,000 emails she deemed "personal" remained unaccounted for. Bannon, along with many other Republicans, suspected that in this cache of emails was a clear road map of how Bill and Hillary were funding the Clinton Foundation, trading, they suspected, on her position in the Obama administration for cash contributions.