1. Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment. -Joe Vidich
2. The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless. -Jack Schwager
3. My attitude is that I always want to be better prepared than someone I’m competing against. The way I prepare myself is by doing my work each night. -Marty Schwartz
4. Money is made by sitting, not trading. -Jesse Livermore
5. Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you. -Larry Hite
6. Letting losses run is the most serious mistake made by most investors. -William O’Neil
7. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. -Alexander Elder
8. The game taught me the game. And it didn’t spare me the rod while teaching. -Jesse Livermore
9. You can be free. You can live and work anywhere in the world. And you can be independent from routine and not answer to anybody. -Alexander Elder
10. Every battle is won or lost before it’s ever fought. -Sun Tzu
11. A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business. -Van K. Tharp
12. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. -Warren Buffett
13. When I get hurt in the market, I get the hell out. It doesn’t matter at all where the market is trading. I just get out, because I believe that once you’re hurt in the market, your decisions are going to be far less objective than they are when you’re doing well… If you stick around when the market is severely against you, sooner or later they are going to carry you out. -Randy McKay
14. Do more of what work and less of what doesn’t. -Steve Clark
15. I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. -Jim Rogers
16. That cotton trade was almost the deal breaker for me. It was at that point that I said, ‘Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain? -Paul Tudor Jones
17. You have to identify your weaknesses and work to change. Keep a trading diary – write down your reasons for entering and exiting every trade. Look for repetitive patterns of success and failure. -Alexander Elder
18. If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money. -Bill Lipschutz
19. The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance. -Ed Seykota
20. Frankly, I don’t see markets; I see risks, rewards, and money. -Larry Hite
21. Beware of trading quotes. -Andreas Clenow
22. Losers average losers. -Paul Tudor Jones
23. Risk comes from not knowing what you’re doing. -Warren Buffett
24. Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt. -Paul Tudor Jones
25. The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short. -Victor Sperandeo
26. Do more of what works and less of what doesn’t. -Steve Clark
27. You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ. -Warren Buffett
28. Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets. -Michael Carr
29. 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 my money and go on to the next trade.’ -Marty Schwartz
30. We are dying from overthinking. We are slowly killing ourselves by thinking about everything. Think. Think. And think. You can never trust the human mind anyway. It’s a death trap. -Anthony Hopkins
31. There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer. -Jack Schwager
32. I always define my risk, and I don’t have to worry about it. -Tony Saliba
33. I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell. -Tom Basso
34. It’s not what we do once in a while that shapes our lives. It’s what we do consistently. -Anthony Robbins
35. Never, ever argue with your trading system. -Michael Covel
36. Stock price movements actually begin to reflect new developments before it is generally recognized that they have taken place. -Arthur Zeikel
37. The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless. -Jack Schwager
38. 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
39. If I have positions going against me, I get right out; if they are going for me, I keep them… Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. -Paul Tudor Jones
40. I learned early that there is nothing new in Wall Street. There can’t 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
41. It’s hard to beat a person who never gives up. -Babe Ruth
42. An investment in knowledge pays the best interest. -Benjamin Franklin
43. In the short run, the market is a voting machine, but in the long run it is a weighing machine. -Benjamin Graham
44. Luck is preparation meeting opportunity. -Oprah
45. The biggest risk is not taking a risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks. -Mark Zuckerberg
46. That cotton trade was almost the deal breaker for me. It was at that point that I said, ‘Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain? -Paul Tudor Jones
47. It is not the strongest or the most intelligent who will survive but those who can best manage change. -Charles Darwin
48. Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness… Paradoxically (and as an unintended consequence) your trading performance will improve significantly. -Yvan Byeajee
49. In this business, if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten. -Peter Lynch
50. All the math you need in the stock market you get in the fourth grade. -Peter Lynch
51. Trading is very competitive and you have to be able to handle getting your butt kicked. -Paul Tudor Jones
52. Novice Traders trade 5 to 10 times too big. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on. -Bruce Kovner
53. The price of a commodity will never go to zero. When you invest in commodities futures, you are not buying a piece of paper that says you own an intangible of the company that can go bankrupt. -Jim Rogers
54. My attitude is that I always want to be better prepared than someone I’m competing against. The way I prepare myself is by doing my work each night. -Marty Schwartz
55. The market can stay irrational longer than you can stay solvent. -John Maynard Keynes
56. I believe when using leverage, the following four conditions must be met. 1. Leverage must be in the general direction of a secular trend. 2. Leverage should never expire. 3. Leveraged positions should not be subject to forced sell. 4. The maximum possible loss should not be more than the invested capital. -Naved Abdali
57. Stock market doesn't only teaches to make money but it also teaches lot about life, patience, persistence and wisdom. -Raj Mishra
58. In crypto, everyday is not a green day, but true holders will later get paid. -Olawale Daniel
59. If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money. -Bill Lipschutz
60. It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their real value is recognized. -John Neff
61. You don’t need to trade often. If you can catch one or two moves to the targets during the day with good size, you can make a good living and keep trading costs down.
62. The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages. -Jesse Livermore
63. If a trader is motivated by the money, then it is the wrong reason. A truly successful trader has got to be involved and into the trading, the money is the side issue… The principal motivation is not the trappings of success. It’s usually the by-product – simply stated, “the game’s the thing. -Bill Lipschutz
64. The core problem, however, is the need to fit markets into a style of trading rather than finding ways to trade that fit with market behavior. -Brett Steenbarger
65. Every trader has strengths and weaknesses. Some are good holders of winners but may hold their losers a little too long. Others may cut their winners a little short but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach. -Michael Marcus
66. Do not anticipate and move without market confirmation - being a little late in your trade is your insurance that you are right or wrong. -Jesse Livermore
67. 99%+ of traders don't care about Ferraris and yachts. They just want to pay their bills, save a little extra money, and sleep well at night. The only way to do that is to bat 70% or more. Anything less, and these goals are nothing more than fantasy. -Mark Melnick
68. Trading is something that is not for everyone but everyone can try it once to be successful. -Anuj Jasani
69. If you are incredibly talented and extremely lucky, you will beat the market most of the time. Everybody else will be better off investing in low-cost broad-market index funds. -Naved Abdali
70. I have learned through the years that after a good run of profits in the markets, it`s very important to take a few days off as a reward. The natural tendency is to keep pushing until the streak ends. But experience has taught me that a rest in the middle of the streak can often extend it. -Marty Schwartz
71. I’ll keep reducing my trading size as long as I’m losing… My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds. -Randy McKay
72. Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist. -Mark Douglas
73. We want to perceive ourselves as winners, but successful traders are always focusing on their losses. -Peter Borish
74. If a strategy is widely available for free or is offered on a small payment can never work. A secret is not a secret if a YouTube commercial offers it for a small payment of a hundred dollars. -Naved Abdali
75. It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently. -Warren Buffett
76. My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks. -Bruce Kovner
77. Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you. -Larry Hite
78. I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading. I don’t think anyone book will do it for you. -Charlie Munger
79. Entering trades is like a real battle – if you want to win it, you need to be ready and prepare for it. Markets are unpredictable, and you can’t predict every possible scenario, but what you can control is yourself. -Olawale Daniel
80. Are you willing to lose money on a trade? If not, then don't take it. You can only win if you're not afraid to lose. And you can only do that if you truly accept the risks in front of you. -Sami Abusad
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