No one ever said being a trader was going to be easy. Well, okay. Maybe the scammers…
But, whether you’re in the early stages, or barely breaking-even, there will be times when you will ask yourself if this whole trading thing is even worth it.
Instead of giving up and throwing in the proverbial white towel, here are 28 inspirational/motivational quotes — some from trading legends, some from celebrities, entrepreneurs and businessmen.
I hope they’ll give you a well-needed boost and help you stay focused on the path to successful trading.
If only one of them does that, then the post has served its purpose.
1. Michael Jordan, NBA Hall of Famer.
I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game’s winning shot and missed. I’ve failed over and over and over again in my life and that’s why I succeed.
2. Henry Ford, business magnate and founder of the Ford Motor Company.
When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.
3. Martin Schwartz, trader, author, won the U.S. Investing Championship in 1984.
A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.
4. Van k. Tharp, trading educator, author, coach.
“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.”
5. Warren Buffett, business magnate, investor, and CEO and chairman of Berkshire Hathaway.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
6. William O’Neil, entrepreneur, stockbroker, and founder of the Investor’s Business Daily.
Letting losses run is the most serious mistake made by most investors.
7. Randy McKay, veteran trader.
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.
8. Victor Sperandeo, trader, index developer, and financial commentator.
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 cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.
9. Paul Tudor Jones, investor, hedge fund manager.
Trading is very competitive and you have to be able to handle getting your butt kicked.
10. Albert Einstein, theoretical physicist, developed the theory of relativity.
It’s not that I’m so smart; it’s just that I stay with problems longer.
11. Tom Basso, hedge fund manager.
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.
12. Richard Branson, business magnate, investor, founder of the Virgin Group.
Do not be embarrassed by your failures, learn from them and start again.
13. Confucius, teacher, politician, philosopher.
It does not matter how slowly you go as long as you do not stop.
14. Alexander Elder, trader, author.
The goal of a successful trader is to make the best trades. Money is secondary.
15. Biz Stone, entrepreneur, co-founded Twitter.
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.
16. Jesse Livermore, trader/ investor.
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.
17. Gary Vaynerchuk, entrepreneur, author, speaker.
I hate how many people think, “glass-half-empty” when their glass is really four-fifths full. I’m grateful when I have one drop in the glass because I know exactly what to do with it.
18. William James, philosopher, psychologist.
The greatest discovery of my generation is that human beings can alter their lives by altering their attitudes of mind.
19. Anthony (Tony) Robbins, author, entrepreneur, and life coach.
It’s not what we do once in a while that shapes our lives. It’s what we do consistently.
20. Anthony Hopkins, actor, director, and producer.
We are dying from overthinking. We are slowly killing ourselves by thinking about everything. Think. Think. Think. You can never trust the human mind anyway. It’s a death trap.
21. Babe Ruth, professional baseball player.
It’s hard to beat a person who never gives up.
22. Ed Seykota, commodities trader.
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.
23. Seneca, Roman Stoic philosopher.
Two elements must be rooted out once and for all
The fear of future suffering, and the recollection of past suffering.
Since the latter no longer concerns me, and the former concerns me not yet.
24. The Buddha, monk, mendicant, and sage.
When faced with all the ups and downs of life, still the mind remains unshaken, not lamenting, not generating defilements, always feeling secure; this is the greatest happiness.