Trading Quotes

"Don't focus on making money; focus on protecting what you have."

Paul Tudor Jones



"The most important thing in making money is not letting your losses get out of hand."

Marty Schwartz



"I always define my risk, and I don't have to worry about it."

Tony Saliba



"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."

Victor Sperandeo



"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



"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



"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



"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



"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



"The fundamental law of investing is the uncertainty of the future."

Peter Bernstein



"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."

Jesse Livermore



"One common adage...that is completely wrongheaded is: You can't go broke taking profits. That's precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits."

William Eckhardt