5 Famous Quotes That Will Inspire You For Trading

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5 Famous Quotes That Will Inspire You For Trading

Warren Buffet said that “never losing money is the number one rule in investing and the second rule is that you must not forget the first rule.” The famous business man can actually make a book out of his many great quotes. He is just one of the many people out there who can inspire your trading drive through words of wisdom. This article shall focus in popular quotes and various wise words from popular business and trading personalities. Yes. Warren Buffet’s rule number can be enough to influence you towards your venture. But sometimes one sentence of persuasion is not enough. You need more words of encouragement to get your game going. Here are some many inspiring quotes that can help you in with your business oriented life.

American Businessman and stock investor Peter Lynch quoted that “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.” This millionaire is absolutely right. Nobody is perfect, even in business. There is no such thing as an instant solution for becoming successful. Most of the time you will experience great trials in order to reach your goal. You may encounter numerous losses before finally winning something big. He indirectly meant in this quote that losing is a normal phenomenon.

Another similarly inspiring quote is by Hungarian-American Businessman George Soros. He said that “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” In trading, you have to accept that losing can be a very normal thing. The vital thing in trading is knowing when and how to trade. By doing so you can earn more by doing what is right. His quote suggests that earning money through the right method can be very rewarding. On another note he also suggests that you also have to take note about your wrong moves and how much you lose by doing it so that you can learn from your mistakes. Yes, it is suggestive of risk management but it shall not be deeply discussed in this article.

Education is vital to trading. You can educate yourself by simple learning from the experienced businesspersons out there. You really have to educate your brain if you are crazy about learning how to trade well. Another quote that can open your business hungry mind is “Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.” This was said by professional stock trader, Alexander Elder. His quote is very enlightening. This means that trading is really hard and if you mix it with ignorance and undisciplined moves then you will surely lose. It is very literal and with it you have to understand that nothing is simple these days. You need to know the major factors involved with trading.

Another metaphor by Alexander Elder talks about mastering these three factors. “Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.” This is a very likeable quote and something that you should put in mind. It is basically summary of what trading is all about. It states that you cannot trade with one of these elements lacking. Say for example a 3 legged stool. It cannot stand with on leg missing. You have to master the trading system with the right mind and drive.

17 of the Best Trading Quotes of All-Time

Trading quotes can inspire you and remind you how you should be trading. These are my favorite quotes, I hope they inspire you too.

By: Hugh Kimura | Updated: March 11, 2020

Trading quotes (and inspirational quotes in general) are a funny thing…

In small doses, they can serve as fuel to propel us forward, especially when we are feeling discouraged. But when you get them all the time (ahem, like on some Instagram accounts) they can seem cliché.

So I didn’t want to barrage you with a million trading quotes. Only the ones that I really like and resonate with me.

I also give you a little background on each person who is credited with the quote. You might learn something new about some of these people…I know I did.

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In addition, I only quote each person once. This made compiling this list much harder, but I think it also makes it much more interesting.

I’m sure you don’t want to get 17 quotes from Jesse Livermore ��

Hopefully you will really love one or two of them. If so, be sure to write them down and keep them visible during your trading day.

If you like this list of trading quotes, feel free to share it on Twitter by clicking below.

Which one of these trading quotes is your favorite?

Then I hope you go create some quotes of your own…

My Favorite Trading Quotes

1. Michael Marcus

“Every trader has strengths and weakness. 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.”

Background on Michael Marcus: He is primarily known for turning $700 into $80 million and was featured in the Market Wizards book. One of his biggest mentors was Ed Seykota.

2. Alexander Elder

“You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody.”

Background on Alexander Elder: From his website…

“Dr. Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of 16. At 23, while working as a ship’s doctor, he jumped a Soviet ship in Africa and received political asylum in the United States. He worked as a psychiatrist in New York City and taught at Columbia University.”

That’s also possibly the best opening of a book…ever. Yes, even better than A Tale of Two Cities.

3. Martin Schwartz

“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.”

Background on Martin Schwartz: He is probably best known for winning the U.S. Investing Championship in 1984. He trades stocks, futures and options.

4. Nicolas Darvas

“I believe in analysis and not forecasting.”

Background on Nicolas Darvas: A dancer by training, but he taught himself to trade and made $2 million in the stock market. He is known for his “box theory” of technical analysis.

5. Van K. Tharp

“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.”

Background on Van K. Tharp: One of the best trading psychologists. He has been helping traders create trading systems, overcome self-limiting beliefs and become the best version of themselves, since 1982.

6. Ed Seykota

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”

Background on Ed Seykota: In the 1970’s Ed pioneered the testing of mechanical trend following systems on punch card computers. He helps traders on his Trading Tribe website.

7. Paul Tudor Jones

“The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”

Background on Paul Tudor Jones: He is probably best known for his prediction of the 1987 Black Monday stock market crash, in which he tripled his money. He is the founder of the Robin Hood Foundation, a philanthropic organization, mainly backed by hedge fund operators.

8. William O’Neil

“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.”

Background on William O’Neil: Famous for the CANSLIM method of investing in stocks. Founder of Investor’s Business Daily.

9. John Maynard Keynes

“Markets can remain irrational longer than you can remain solvent.”

Background on John Maynard Keynes: A famous British Economist who won and lost fortunes in speculation. Known for Keynesian Economics, where he believed that in an economic downturn, a government should borrow money to finance economic recovery.

10. Warren Buffet

“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.”

Background on Warren Buffet: The “Oracle of Omaha” is known for value investing and is one of the richest men in the world.

11. John Paulson

“Those types of investments don’t come around very often.”

Background on John Paulson: His company made $15 billion on the subprime collapse. ‘Nuff said.

12. Randy McKay

“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.”

Background on Randy McKay: He was featured in The New Market Wizards. In 1972, he used his brother’s seat on the newly formed IMM and started trading with $3,000. The rest, as they say, is history.

13. George Soros

“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”

Background on George Soros: Known as the man who broke the Bank of England, he now dedicates his time and money to supporting progressive political causes.

14. Larry Hite

“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.”

Background on Larry Hite: A hedge fund manager who helped pioneer computerized system trading, with Ed Seykota.

15. Bruce Kovner

“If you personalize losses, you can’t trade.”

Background on Bruce Kovner: He borrowed $3,000 on a credit card to trade soybean futures. That trade eventually went to $23,000. He is now estimated to be worth $5.3 billlion.

16. Victor Sperandeo

“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.”

Background on Victor Sperandeo: Another trader who benefited from the 1987 stock market crash, reportedly making 300% on his money. Also known as “Trader Vic,” not to be confused with the tiki bars.

17. Sir John Templeton

“The four most dangerous words in investing are: This time it’s different.”

Background on Sir John Templeton: Investor and mutual fund pioneer, Templeton became a billionaire by pioneering the use of globally diversified mutual funds. He was one of the most generous philanthropists of all-time, giving away over $1 billion during his lifetime.

Conclusion

Whew, that was fun. Out of all of those quotes, the one from Alexader Elder is my favorite.

But who knows, that may change…

Now it’s your turn…what are some of your favorite trading or inspirational quotes of all-time? Or even better, what is a trading saying that you would want to be known for? Drop them in the comments below…

Disclaimer: Some links on this page are affiliate links. We do make a commission if you purchase through these links, but it does not cost you anything extra and we only promote products and services that we personally use and wholeheartedly believe in. A portion of the proceeds are donated to my charity partners.

50 Inspirational Quotes On Investing

Investing in yourself is one of the major keys to success. You should invest your time, effort, money, and actions in activities and investments that will yield a profitable return in the future. May these quotes inspire you to become a wise investor in all aspects of your life so that you make your dreams a reality.

1. “The rich invest in time, the poor invest in money.” Warren Buffet

2. “Never depend on a single income, make an investment to create a second source.” Warren Buffet

3. “Do not save what is left after spending but spend what is left after saving.” Warren Buffet

4. “I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” Warren Buffet

5. “Everyone wants a piece of land. It’s the only sure investment, it can never depreciate like a car or a washing machine.” Russel Sage

6. “In any investment, you expect to have fun and make money.” Michael Jordan

7. “Do not put all your eggs in one basket.” Warren Buffet

8. “An investor without investment objectives is like a traveler without a destination.” Anonymous

9. “Sometimes your best investments are the ones you don’t make.” Donald Trump

10. “Invest in yourself, you can afford it, trust me.” Rashon Carraway

11. “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 a company that can go bankrupt.” Jim Rogers

12. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” Anonymous

13. “Wealthy people invest first and spend what’s left and broke people spend first and invest what’s left.” Anonymous

14. “Earn as much as you can, save as much as you can, invest as much as you can, give as much as you can.” John Wesley

15. “90% of all millionaires become so through owning real estate.” Andrew Carnegie

16. “To be a successful business owner and investor, you have to be emotionally neutral to winning and losing Winning and losing are just part of the game.” Robert Kiyosaki

17. “Goodness is the only investment that never fails.” Henry David Thoreau

18. “If you buy things you do not need, soon you will have to sell things you need.” Warren Buffet

19. “Wise spending is part of wise investing. And it’s never too late to start.” Rhonda Katz

20. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell.” Jonathan Sacks

21. “Never test the depth of the river with both of your feet.” Warren Buffet

22. “The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” Robert Kiyosaki

23. “An investment in knowledge pays the best interest.” Benjamin Franklin

24. “Don’t work for money; make it work for you.” Robert Kiyosaki

25. “You cannot save time for future use. But you can invest it for the future you.” Anonymous

26. “Investors should purchase stocks like they purchase groceries, not like they purchase perfume.” Ben Graham

27. “Rule #1: Never lose money; Rule #2: Don’t forget rule #1.” Warren Buffet

28. “When you invest, you are buying a day that you don’t have to work.” Aya Laraya

29. “Risk comes from not knowing what you are doing.” Warren Buffet

30. “Investing time in yourself is the only safe investment that will give you maximum return throughout life.” Lyrikal

31. “Some of your activities should be viewed as an investment and not a sacrifice.” Anonymous

32. “The wise young man or wage earner of today invests his money in real estate.” Andrew Carnegie

33. “An investment in education is an investment in our future.” David Wasinger

34. “If you want your children to turn out well, invest twice as much time with them and half as much money.” Abigail Van Buren

35. “Formal education will make you a living; self-education will make you a fortune.” Jim Rohn

36. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” Robert Allen

37. “The largest 100 corporations hold 25% of the worldwide productive assets, which in turn control 75% of international trade and 98% of all foreign direct investment.” Peter Drucker

38. “Real estate is about the safest investment in the world.” Franklin D. Roosevelt

39. “The best gift, and investment, you can give your child is your time.” Kevin Heath

40. “A part of all I earn is mine to keep.” The Richest Man In Babylon

41. “You will come to know that what appears today to be a sacrifice will prove to be the greatest investment that you will ever make.” Gordon B. Hinkley

42. “Your body will be around a lot longer than that expensive handbag. Invest in yourself.” Anonymous

43. “If you want to be truly successful, invest in yourself to get the knowledge you need to find your unique factor. When you find it and focus on it and persevere your success will blossom.” Sydney Madwed

44. “Invest in your mind. Invest in your health. Invest in yourself.” Anonymous

45. “I made my first investment at age eleven. I was wasting my life until then.” Warren Buffet

46. “If you do not know how to care for money, money will stay away from you.” Robert T. Kiyosaki

47. “Investing puts money to work. The only reason to save money is to invest it.” Grant Cardone

48. “Investing in your child’s education is never a wasted effort.” Anonymous

49. “Do something today that your future self will thank you for.” Anonymous

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