"Losing is in how you deal with losing. It's extremely important in trading because winning is easy; it takes care of itself. The key to trading is learning and figuring out how to take a loss."
"Having good trading psychology is all about not letting your emotions interfere with your statistic advantage you have from your trading strategy."
"Trading is much like starting a business... it's challenging and the number one barrier to trading success is psychology."
"It's not all about the techniques... it's not just about understanding how to trade based on price action. If you don't have the right mindset... then you're going to have an incredibly difficult time ever becoming profitable."
"Trading psychology actually becomes pretty easy... if you can master your risk management plan to keep you comfortable and you can have a strategy that you've already back tested and seen to be profitable."
"The irony of obsessive loss aversion is that our worst fears become realized in our attempt to manage them."
"The beauty behind a runner is not letting a good trade go bad by greed."
"We cannot speak regarding the financial markets in 100% certainty; that's where ego comes into play, that's where traders get married to a bias."
"The emotional roller coaster of trading is the absolute hardest part."
"Trading in the market is not easy, it takes time, skill, and a different mentality."
"Trading psychology and risk management are as important as strategy—master them."
"Your key to the minds of trading's elite performers."
"When people are buying I want to be the one selling it to them...when people are selling I want to be the ones buying it."
"You've got to go into a stock with a strategy because if you go in to something like, 'Oh yeah, I'm going to diamond hand this,' and then it turns red, and then you're like, 'Oh crap, I gotta sell,' you're just tricking yourself."
"All of this is irrelevant if you can't find a way to have good trading psychology or discipline is what this is also known as."
"If you have several confluences, be confident in your trade. If you lose, you lose, but you didn't just get in the trade for no reason."
"You can have all the chart work you want, but if your psychology isn't right, it won't matter."
"Think about your own pain and pleasure response. More importantly, think about everyone else who's trading that doesn't understand this."
"Losing is natural and you have to understand how to unwind this natural tendency."
"You have to understand, emotion's great in life. Love and empathy are great times to have emotion. Just in trading, it will inevitably work against you."
"Understanding market psychology: How retail traders and banks approach trends differently."
"Retail traders are obsessed with timing and entries, but banks focus on accumulation and distribution."
"You're going to need to master risk management and trading psychology."
"Being emotionless is one of the only ways to really become profitable."
"The only thing worse than losing a trade is missing out on a big winner that's the only thing in trading that really makes me mad at myself."
"Trading psychology and discipline are going to be the most important parts of your trading."
"Understanding where a lot of Traders are going to be screwed because where there is pain there is gain."
"The market has a special way of making you waste time."
"If you want men to learn manners, they learn how to behave from other men whom they admire."
"Buy when you think you're going to throw up and it's going to go down forever and sell when you actually start to believe you're gonna get rich."
"I failed at the goal of being profitable today, but being short-term focused on an individual day is not always good."
"Trading brings out and amplifies a lot of our emotions and insecurities. You need techniques to relax and maintain composure."
"Over-trading does nothing but steal your confidence."
"The ability to relax and slow down your breathing while you're in a trade that is against you, while you're in drawdown, is extremely important."
"If I have a losing trade, it doesn't bother me. It's not even a paper cut."
"Trading psychology: Trading requires fearlessness, discipline, and patience."
"It's a perfect bottom signal when everyone is talking smack about you."
"You're not going to get the consistent months and this psychologically messes with those traders."
"The psychology remains the same: greed, the hope of getting rich quick."
"Controlling your emotions is going to be paramount."
"In the market, we have to move away from our emotions because there's no room for emotions."
"You're wrong more often than you're right, but can you cut the losses fast and just focus on the winners?"
"Solid numbers and half dollars and quarter dollars are all psychological resistances."
"Good trading is uncomfortable. When you feel comfortable, you're probably not doing it right."
"Good traders are the ones who know that good trading will make you uncomfortable."
"Trading is probably 95 percent psychology and maybe 5 percent skill."
"Trading is emotional, everything's emotional. Relax, remove the emotion and understand this is a simple job."
"You've got to have this kind of maturity as a trader to be successful."
"Power of women traders: more rational, disciplined, measured."
"I don't believe in revenge trading, but it will happen every single trader revenge trades."
"If you think that you will never revenge trade then you're just lying to yourself."
"Fear of failure drives premature profit-taking."
"When you're on the greed side, that actually signals a strong sell."
"Balance is a must in day trading... it can be very addictive and it's very, very fun to do."
"Mental analysis is a huge component of our journey as day traders."
"It's really about controlling your own emotions."
"It's a dangerous mindset because I think a lot of people focus on what is possible versus what is probable."
"Fear moves faster than hope and that's what we look for and that's what we try to take advantage of to have an edge over the crowd in trading."
"Making money on the short side to me is the most addictive, I always compare it to being addicted to heroin."
"The more you allow emotions to play a part in your trading, the longer you stay blinded to what your future could look like."
"Traders try to beat the market but they often forget that they are the market."
"I don't really believe in the psychology of trading. I think you need to set down your rules, test your rules, prove that they work, and follow your rules. That's my psychology."
"Positivity, detachment, and patience are key in trading. It's just one trade in many."
"I think it's very important trading is so psychological."
"If you make three consecutive losses, you raise your hand and say 'Thomas, I effed it up.'"
"If you tie yourself worth to your trading performance, you're going to become familiar with an old friend called depression."
"Boredom trading or over trading are usually shortcuts leading to disasters."
"You should not be chasing green dildos to heaven like you're going to lose this game 'cause you're going to panic sell if there's a correction."
"Perfect recipe to make you afraid of trading to make you afraid of the next setup even when you take a losing trade."
"The market has migrated from hope to optimism."
"The best loser wins in trading. I can show you how to win, but the problem is you don't know how to lose."
"Focus on winning trades rather than worrying about recovering losses."
"Little question again so in your trading journey uh back back then did you ever had like like nightmares about trading or"
"Fear gets you and you sell for a loss, and that really can turn a lot of traders into never again traders."
"Trading is you versus the charts. It's me versus you, you know? You have to be someone who is very self-reliant, you have to take full accountability."
"The market doesn't care about your biases, it will do whatever it has to do." - "The market doesn't care about your biases."
"The vast majority of trading is psychological."
"If you build your market prowess on whether the market is giving you instant gratification or not you're going to blow yourself up."
"Not letting your last trade affect your next trade."
"Resilience is often the reason why traders trade better."
"The tendency of a market to run those stops, make people freak out, make the weak hands exit."
"You have to be Fearless... you only get this trading from a place of no fear."
"Fear and trading fearfully was one of my biggest flaws."
"Winning and being a consistent winner are two completely different animals. There isn't even a relationship between the two." - Mark Douglas
"Back testing is the only way to take the emotions out of trading in my opinion."
"Impatience is the downfall of plenty of traders; patience is how you create a professional trading career."
"The majority of trading is all psychological and how you deal with those bad days is what's really going to define your success as a trader for the long run."
"You have to get comfortable with fear you have to get comfortable with losses you have to leave your ego aside and know when you're wrong and cut losses short."
"The longer it goes on in your trading career, the people who give in to their emotions... they don't usually stick around for that long."
"Locking down your forex trading psychology is a gigantic step and not an optional one. You don't get a choice, you must get this part right."
"Candlestick analysis keeps emotions out of trading with clarity."
"Emotion is a money killer. It's the most difficult thing to do in trading, hands down."
"We are trading human emotion, not just stocks or cryptocurrencies."
"Consolidation occurs where price is oscillating between upper and lower range and between two parallel and often horizontal trend lines."
"Resistance and support works because of the psychological mentality."
"Your ego is the enemy in cryptocurrency. It's not going to help you at all in trading."
"You need to be trading from a place of confidence, not desperation."
"Greed and fear are the two main emotions that traders must control. Overtrading and revenge trading are common pitfalls."
"Fear, greed, anxiety, hope, it's all in these charts."
"Discipline is your biggest battle in the world of trading."
"You have to get over yourself to be a trader."
"Patience. This is a game of patience, intellect, emotions, math, and patience."
"Even the most experienced traders FOMO into stocks, but as long as you have a set exit point... you can make a profit out of it."
"Psychology is superb, that's like 60% of the whole thing."
"Discipline is something you should celebrate more than a green day."
"That's you coming in with your arrogant attitude trying to tell the market what to do."
"If you are paying too much money to be wrong that's why trading encourages or brings on a lot of frustration"
"When people start to make profits, that realized profit on their trades is positive, they begin to sell. It's also a sign we are coming out of the bear Market."
"Understanding what the bigger picture trades are doing and the psychology behind those bigger picture candles is really crucial."
"Change of character, think about it for a second, we have two characters inside the market at any one given time, we have a bull and we have a bear."
"It's important to have sources of fulfillment in trading that are separate from profitability."
"Developing a winning psychology takes time and practice."
"...risk management is one of the best ways we can mitigate our emotions during periods of drawdown to avoid making silly trading mistakes."
"People are really good at finding winning trades... but how they behave when it's not working out is the shocking thing."
"Ego gets in the way. When they get into a trade and it doesn't seem to be going against them, they start pulling up news, they start looking for other opinions. This doesn't allow them to take that quick loser."
"Trading psychology is, in my opinion, the most important thing for all investors to pay attention to."
"For those of you that struggle with emotion in your trading, this is a book you have to read."
"The markets are really good at tricking people into doing things they shouldn't, like not taking profits when they should or adding to losers."
"Trading psychology is 90%... having the weightage in terms of importance. And technicals or the rest of the things is just 10%."
"...when I'm in a position like this I have conviction to hold this because why would I take it off just in this initial high when I know there's so much more room to the upside and I think a lot of the times again people get impacted by the p&l and not the actual chart itself"
"If a Trader can build up the awareness before they trade off which decision they're making, stick to process-based decisions, and avoid taking outcome-based decisions, I guarantee that will get a Trader let's say 80 to 90% of the way towards consistency."
"Stick to your rules. Understand yourself, understand your weaknesses, put it on a piece of paper. What is your weakness? Try to overcome it. Understand your risk tolerance."
"Trust confidence and this your mental game being very high or optimal is a huge thing in terms of performance in the markets."
"In trading, overcoming internal mental blocks is as crucial as understanding market trends."
"Just because you're having the thought that you can't afford to take a loss on a trade, it doesn't mean you have to stay in the trade."
"If you don't know where price is going, it's just a 50/50 gamble. You're just pattern trading."
"Learning how to prevent overtrading would have been one of those big things."
"The rallying cry of a losing trader: 'I'll get out when I'm even.' And why is that so important? Because if you can get back even, you can say, 'I was not wrong, I did not make a mistake.' And that need to protect the ego is exactly why people lose."
"Fear is not the worst emotion in trading, it's Euphoria."
"The emotional reaction leads to compounding losses."
"...the successful ones tend to be people that are quite calm... trading has become to them a process."
"The human mind hasn't evolved to do trading, it's evolved to survive in a physical world fraught with physical dangers."
"Remember trading is all about psychology."
"Success in trading is not about being dependent or independent but interdependent."
"Interrupt fear and greed responses quickly through deep breathing and focus techniques."
"Visualize and practice how you would respond to fear and greed scenarios repeatedly."
"It's all about preference because at the end of the day, indicators work for you because it works for your psychology."
"Take the easy money and leave the rest for the arrogant egomaniacs who need to be right."
"You need something to keep you motivated, you need some type of motivation to keep you going."
"Charts are a reflection of psychology; it's just emotions."
"The switch from non-being profitable to be profitable is just to follow the rules, which rules? Psychology rules, any rules that you create for a strategy, it's actually that simple."
"Listen to the market instead of your own mind."
"Trading is 80% psychology and 20% technical."
"Trading is so amazing because... you physically take your personality and put it into the market."
"Preservation of capital and mental aspect of your trading is really the most important."
"Just recognizing that is the first step to being able to limit the negative impact it will have on your trading."
"All you need is that plus side of 50/50, right? Get to 55, get to 60, and you're golden."
"Your trading does not rely upon you winning every single time."
"Trading is like a mirror; it shows you your best, it shows you your worst."
"Be okay with missing out on a move because you're waiting for what you want to see happen."
"The best thing to help your psychology when you're trading is to have a plan for the market."
"At some point, it becomes less about the charts and more about you as a person."
"Expectations are one of the biggest things you need to understand in trading."
"Market does not care about your feelings; it doesn't care what you think is going to happen next. Your thoughts have no influence on the market."
"We are trading people. Stocks only move because of human emotion."
"We do it because we know the potential."
"Patience is hard and part of the reasons patience is hard too is if you don't sit and stare at your swings all day, it won't make them go up faster and it will drive you nuts."
"FOMO is the enemy of the 99% and the friend of the 1%."
"Make sure you don't trade with your p&l."
"If you don't have confidence in the trade, why are you taking it?"
"What actually makes a good trader is how you react when things throw you off balance."
"The risk on the account stays the same, but what this will stop you from is that element of greed."
"Trading psychology is just as important, if not more important, than developing your technical analysis skills."
"It doesn't matter how many losses you take in a row, you need to come back with the same mindset every single day."
"Technical analysis is big, money management is big, and trading psychology is big."
"The market is not a gorilla, it's not Godzilla, it's not a Tasmanian devil, it's none of those things; the market is nothing except the projection of your mind in a real sense."
"The true secret of trading is that we would all much rather be right than make money."
"The instinctual mind is always seeing the potential of losing as a threat and triggers emotional hijackings at almost all the wrong times."
"Usually, almost always, the reason why people run into trouble is because they're letting their losers run and they're getting out of their winners too quick."
"The winning trader knows that I'm able to make money but at the same time I can lose money."
"Your number one worst enemy in trading is you."
"You're not aiming to be robots; that's the thing. You'll never fully remove emotion, you can reduce it and you can manage your mind but that's about it."
"I always try and treat each trade as its own individual and try not to carry those emotions onto the next trade."
"Making back a loss is more empowering than having a big win."
"When you come into your trading office or room, you have to take your ego and throw it in the trash can."
"Psychology, get your mindset right, otherwise it doesn't matter how well you can trade."
"Learning from my mistakes is only going to make me a better trader."
"I'm really trying to get less emotionally attached to trades."
"Keep emotion out of your dang trades."
"I'm pleased as punch because your losing trades should be boring."
"When the stock starts spiking wildly, shorts are forced to panic buy."
"The number one trait that I personally believe is why traders fail is their lack of decisiveness."
"It's not about the percentage... overwhelmingly, it's your mentality."
"There is such thing as a good loss and there is such thing as a bad win, and I need to understand that difference."
"The markets will soon humble you; you need to stay exactly where you were mentally when you pass phase one and phase two."
"If you improve your trading performance and your psychology, the profit will come."
"If you can manage your emotions, you make more money."
"Trading psychology is the most important thing in forex trading, even over money management."
"There is not a professional Forex trader alive that does not have their trading psychology at least in the top five percent of all traders out there."
"You could have success with any strategy or style, but it's your emotions and your discipline, your patience, your fear and greed, which are really a roadblock in your way from making profits."
"The market doesn't care about you... it doesn't care about your ethnicity, it doesn't care about your religion, it doesn't care about your color, it doesn't care about your financial status, it doesn't care about your job."
"Detach yourself from the money... when you become attached to something, your emotions do the decision making for you."
"Almost all traders suffer from some psychological demons or limiting beliefs which keep them from reaching their full potential."
"I'm not stressed, I'm so calm when I'm trading, and I enjoy it so much."
"Do not get overly confident after a string of winning trades."
"Psychology is the main reason why traders fail."
"Don't attach your self-worth to the outcome of a trade when the reality is it means nothing."
"Trading is more about managing risk especially during those slow and quiet days to be able to survive until you can thrive."
"Now one thing you want to be aware of is FOMO, fear of missing out."
"Detachment is the biggest thing; people that are making good profits are thoughtfully detached from their trades."