Some early inspiring quotes.

Given that there is no formal education for learning how to be a speculator, I think it’s critical for a person who desires to become a successful trader that he or she spends significant amount of time learning from others.  By this, I don’t mean the “get-rich-quick-with-my-awesome-sure-fire-system” crooks that sells their workshops all over the web.  I’m talking about proven multi-year provable track-record traders.  Thank God for Jack D. Schwager who has done a lot of the work for you already.   His serie of Market Wizards books are a goldmine of wisdom and insights.

Here are some of the quotes that inspired me in the early days of trading:

I also know instinctively that worrying about the money, looking at my trading balance is the worst thing I can do. It is important for a trader to trade the markets, not his or her capital balance. The goal is to be a consistent performer and then let the money take care of itself.

~ Peter Brandt (40-year discretionary trading record)

One of them is that I need to forgive myself very quickly when I do something stupid. I can sit and hold previous mistakes over my head, and mistakes will compound if I do that. You have to be able to clear your conscience of the mistake you just made. If you beat yourself up and hold onto something, you’re going to make another error.  I was 35 years old when my Swiss Franc trade happened. It all really started for me when I was 35.

~ Peter Brandt

 

Success breeds complacency. Complacency breeds failure. Only the paranoid survive.

~Andrew Grove.  (One of the founder of Intel)

 

Courage in a speculator is merely the confidence to act on the decision of his mind.    

~ Dickson Watts by Edwin Lefevre in “Reminiscences of a Stock Operator

 

You can’t quantify reward by you can quantify risk.

~L. Hitte

 

 It  can take one day what took years to build.

~P. Tudor Jones

 

When you’re getting beat to death, get your head out of the mixer.

~Richard Dennis

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