Next: Step 2 of 4. Phillip Konchar February 20, Hope you enjoy! You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody. Alexander Elder. I believe in analysis and not forecasting. Nicolas Darvas.

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. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. Warren Buffett. When I get hurt in the market, I get the hell out.

Randy McKay. The key to trading success is emotional discipline. Victor Sperandeo. What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.

Investing is not a game where the guy with the IQ beats the guy with IQ. Money is made by sitting, not trading. Jesse Livermore. That cotton trade was almost the deal breaker for me.

Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain? Paul Tudor Jones. 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. 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. 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 Unknown.

Jaymin Shah. Losses are necessary, as long as they are associated with a technique to help you learn from them David Sikhosana.

Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. 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. It does not matter how slowly you go as long as you do not stop. The goal of a successful trader is to make the best trades. Money is secondary.

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. Anthony Robbins. Learn to take losses. The most important thing in making money is not letting your losses get out of hand Marty Schwartz.

My parents agreed with me, which I really am grateful for. They know me as well. They know if I want something, I get it. The next step in my forex journey was filled with hours and hours of studying the markets and reading books.

I watched countless of videos and read a lot of books. I also asked a lot of questions and kept notes on everything. During the years I kept on griding. I built a lot of discipline during those years. You have to remember: I was alone. No one was checking me. I might as well have played video games all day and watched porn. It was all on me. So, I made sure I stayed disciplined. During those years I went to the gym a lot and I had a nice morning routine.

By following that over and over again, I built a lot of discipline. To this day, this still helps me in my trading. Most people lack discipline in trading because they are not disciplined in their life. Are you like that? Start by building discipline in your regular life and your trading will improve. During the grind I sometimes lost myself. Eventually, I burned out. I learned a lot from that period. Afterwards, I started listening more to myself. I found another part time job that I enjoyed better and kept on grinding.

Listen to yourself and try to enjoy the journey. No need to rush it, no need to lose your health because of trading. The biggest change in my forex journey happened when I found a forex mentor. Forex mentoring has become quite popular recently. Most forex trading mentors are fake mentors, but I found a real one. I learned how the game really works and started building my edge. Eventually, I became profitable. It took me around three and a half years to become profitable.

Then, I still was trading part time. Now, I trade professionally, I mentor traders and manage funds. It was all worth it in the end, but it was a hard journey. I lost my health at certain times. I lost time with friends and I have backpains at twenty-five years old.

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Trading in forex is much like riding a great roller coaster — fun and excitement paired with feeling scared, nervous or even occasionally powerless. One excellent thing to do during these troubling times is read some motivational quotes from traders who have been in your shoes and know the path to success.

Motivation is Key! Read Review. Inspirational trading quotes are great and whether a trader is going through a losing streak or have blown up their trading account, it is super easy to lose enthusiasm. Traders must keep pushing forward and a list of inspirational trading quotes can fuel the fire and serve as a great motivator. These quotes should give traders some insight into how they should prepare and mentally approach their trading.

Not even the top or best trading strategies in the world will do a trader any good if they allow emotions to trump logic. The number one reason traders surrender to emotions is the fear of losing money. A fear like this can become debilitating when a trader allows the potential loss to exceed their comfort level. In this quote, Jack Schwager, the Author of Market Wizards , points out a misunderstood aspect of trading. There is a popular belief among traders that there is a certain charming formula that will offer the most profitable results with the least amount of drawdown.

But — There is no single, overall, covers all the basics, the best way to trade. However, there will be a best way for each person to trade.

Only a trader can discover it for themselves as it has to fit their personality. This is one of the reasons why it takes many years of hard work and dedication to become a consistently profitable trader. The actual process of trading, however, should be effortless. Without question, all of the best trades require little effort. As Mr. Schwager points out in the mentioned, the hard work lies is in the preparation.

Before a profitable trade can be easy, traders have to put in the screen time to make it so. Trading has an inverse relationship to other things in life — meaning the harder you try to build an account, the less likely you are to succeed. The irony is that they are all very difficult to find. Inspirational trading quotes have more uses than traders can ever imagine.

Firstly — they make for cool sayings to pop in to a trade conversation — but they are also perfect when traders need that extra boost sometimes as a reminder that bad times will eventually pass. The way I prepare myself is by doing my work each night. Sometimes it may be easy to forget that forex trading is a zero-sum game, and in financial markets, every gain is balanced by a loss, and vice-versa, of the same size. In layman's terms, for every winning trade, there must be a losing one and that also counts the other way around!

According to Marty Schwartz, traders have to be better prepared than their competitors at all times. In fact, this way of thinking can get traders in trouble! However, what it does mean is that traders have to put in more time and effort than those they are coming up against if they wish to succeed. At the end of the day, every time a trader buys or sell, there will be another trader doing the exact opposite. This may seem like an obvious statement, but if it were that easy, everyone would be successful!

The majority of traders never actually sit down to analyse their winners and losers and that is what Steve Clark is referring to in this quote. Simply, traders should begin to track their successes and failures alike. They may be surprised by what they learn!

I do nothing in the meantime. Patience is not only the key to most situations but also to trading success. Without it, traders will quickly find themselves trading second-rate setups and losing money left and right. Traders need a clear mind to identify favourable trade setups, and if they are constantly subjected to the stress and anxiety of losing trades, they will consistently miss the setups they should be taking.

By patiently waiting for the most favourable opportunities, traders will instantly put themself in a better position. What it comes down to —. It will vary depending on the time frame a trader trades as well as their criteria for what they deem to be favourable; a general answer would be, not very often.

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. When the going gets tough — Passion will keep you going. The road to becoming a constantly profitable trader is undoubtedly tough! As a trader, you will be in the business of reacting and It is one of the few professions where it pays to follow rather than lead.

By allowing the market to make the first move, traders can play the defense while at the same time exploiting market inefficiencies. As George Soros points out in this quote, what is important is how much a trader makes when they are right and how much they lose when they are wrong. Everything else is irrelevant. Interesting Fact: Legendary hedge fund manager George Soros is one of the most well-known successful money managers of recent times. Stanley Druckenmiller, Soros protégé brought the BOE to its knees and crashed the British Pound.

Simply stating that certain price behaviours in the market can help traders gauge market reversals. Trend reversals often come out after a period of high volatility. Some people seem to like to lose, so they win by losing money. Some traders may even begin to feed off of these bad habits that they develop which creates a vicious cycle of losses.

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Buy MTN Zakhele Shares Buy Solbe1 Sasol Shares Buy Sasol Inzalo Shares Buy Sasol Khanyisa Shares Buy Phuthuma Nathi Shares. Buy Sasol Shares Buy MTN Shares Buy Vodacom Shares Buy Capitec Shares Buy Shoprite Shares Buy Naspers Shares Buy Phuthuma Nathi Shares Buy Steinhoff Shares Buy Woolworths Shares Buy Old Mutual Shares Buy Anglo American Shares Buy Sibanye Stillwater Shares Buy Telkom Shares Buy Purple Group Shares Buy Sanlam Shares Buy Thungela Resources Shares Buy Prosus Shares Buy Kumba Share.

Buy Amazon Stock Buy Apple Stock Buy Tesla Shares Buy Meta Shares Buy Google Shares Buy Pfizer Stocks Buy NVIDIA Stocks Buy AMD Stocks Buy Microsoft Shares Buy Pepsico Shares Buy Adobe Shares Buy Intel Shares Buy Paypal Shares Buy Starbucks Shares Buy Netflix Shares Buy Moderna Shares Buy Zoom Shares Buy eBay Shares.

JSE Top 40 JSE All Share JSE Top Industrial Index Industrial 25 Index Financial Index Financial 15 Resource 10 Index. Satrix40 STX40 Alt-X Index Wall Street Index DJIA FTSE Index UK DAX Index Germany Nikkei Index Japan.

Dollar to Rand Euro to Rand British Pound to Rand Canadian Dollar to Rand Australian Dollar to Rand Rand to Rupee. Broker of the Month Top 10 Cryptocurrencies What is Bitcoin? How to buy Bitcoin in South Africa Buy Bitcoin Legally Open a FREE Bitcoin Wallet Cryptocurrency Converter What is Ethereum? What is Ripple? What is Litecoin? What is Bitcoin Cash? Is Luno Safe? Best Brokers.

Forex No Deposit Bonus. FSCA Regulated Forex Brokers. While, technically speaking, forex trading is all about knowing what to trade and when the truth here appears a bit more complex. Trading in forex is much like riding a great roller coaster — fun and excitement paired with feeling scared, nervous or even occasionally powerless. One excellent thing to do during these troubling times is read some motivational quotes from traders who have been in your shoes and know the path to success.

Motivation is Key! Read Review. Inspirational trading quotes are great and whether a trader is going through a losing streak or have blown up their trading account, it is super easy to lose enthusiasm. Traders must keep pushing forward and a list of inspirational trading quotes can fuel the fire and serve as a great motivator.

These quotes should give traders some insight into how they should prepare and mentally approach their trading. Not even the top or best trading strategies in the world will do a trader any good if they allow emotions to trump logic. The number one reason traders surrender to emotions is the fear of losing money. A fear like this can become debilitating when a trader allows the potential loss to exceed their comfort level. In this quote, Jack Schwager, the Author of Market Wizards , points out a misunderstood aspect of trading.

There is a popular belief among traders that there is a certain charming formula that will offer the most profitable results with the least amount of drawdown. But — There is no single, overall, covers all the basics, the best way to trade.

However, there will be a best way for each person to trade. Only a trader can discover it for themselves as it has to fit their personality. This is one of the reasons why it takes many years of hard work and dedication to become a consistently profitable trader.

The actual process of trading, however, should be effortless. Without question, all of the best trades require little effort. As Mr. Schwager points out in the mentioned, the hard work lies is in the preparation. Before a profitable trade can be easy, traders have to put in the screen time to make it so. Trading has an inverse relationship to other things in life — meaning the harder you try to build an account, the less likely you are to succeed.

The irony is that they are all very difficult to find. Inspirational trading quotes have more uses than traders can ever imagine. Firstly — they make for cool sayings to pop in to a trade conversation — but they are also perfect when traders need that extra boost sometimes as a reminder that bad times will eventually pass. The way I prepare myself is by doing my work each night.

Sometimes it may be easy to forget that forex trading is a zero-sum game, and in financial markets, every gain is balanced by a loss, and vice-versa, of the same size.

In layman's terms, for every winning trade, there must be a losing one and that also counts the other way around! According to Marty Schwartz, traders have to be better prepared than their competitors at all times. In fact, this way of thinking can get traders in trouble!

However, what it does mean is that traders have to put in more time and effort than those they are coming up against if they wish to succeed. At the end of the day, every time a trader buys or sell, there will be another trader doing the exact opposite. This may seem like an obvious statement, but if it were that easy, everyone would be successful! The majority of traders never actually sit down to analyse their winners and losers and that is what Steve Clark is referring to in this quote.

Simply, traders should begin to track their successes and failures alike. They may be surprised by what they learn! I do nothing in the meantime. Patience is not only the key to most situations but also to trading success.

Without it, traders will quickly find themselves trading second-rate setups and losing money left and right. Traders need a clear mind to identify favourable trade setups, and if they are constantly subjected to the stress and anxiety of losing trades, they will consistently miss the setups they should be taking. By patiently waiting for the most favourable opportunities, traders will instantly put themself in a better position.

What it comes down to —. It will vary depending on the time frame a trader trades as well as their criteria for what they deem to be favourable; a general answer would be, not very often. 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.

When the going gets tough — Passion will keep you going. The road to becoming a constantly profitable trader is undoubtedly tough! As a trader, you will be in the business of reacting and It is one of the few professions where it pays to follow rather than lead. By allowing the market to make the first move, traders can play the defense while at the same time exploiting market inefficiencies. As George Soros points out in this quote, what is important is how much a trader makes when they are right and how much they lose when they are wrong.

Everything else is irrelevant. Interesting Fact: Legendary hedge fund manager George Soros is one of the most well-known successful money managers of recent times.

Stanley Druckenmiller, Soros protégé brought the BOE to its knees and crashed the British Pound. Simply stating that certain price behaviours in the market can help traders gauge market reversals.

Trend reversals often come out after a period of high volatility. Some people seem to like to lose, so they win by losing money. Some traders may even begin to feed off of these bad habits that they develop which creates a vicious cycle of losses. PT Jones is probably one of the most respected traders and hedge fund managers in the trading community and always impresses with his wisdom — Here are a few:.

After a while size means nothing. Everything in trading is relative — especially in the Forex market where a currency is only as strong or weak as indicated by its counterpart and when it comes to profit and loss, the same rule of relativity applies.

Another favourite quote will be this short but sweet lesson:. Which offers a short lesson — never add to a losing trade. When you get out, then you can think clearly again. As a trader set yourself one rule when it comes to losing.

Reset to avoid regret.

Then this…. And yes, I do have a track record. Useful Links. These are very powerful quotes that I live by in my trading. The natural tendency is to keep pushing until the streak ends.

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