No matter where you are in your trading or investing journey it is good to stay inspired and focused on your long-term goals and prize. Psychology can be 80% of winning in the markets as quitting is so easy and perseverance can seem so difficult during losing streaks or drawdowns in capital. It is important to keep the right mindset and understand how to manage your emotions, stress, and impatience with the ups and downs of your equity curve.
Here are ten quotes that can help a new trader or a frustrated trader to be inspired to continue on in their journey if they are in a drawdown in their own emotional resilience.
“People often say motivation doesn’t last. Neither does bathing—that’s why we recommend it daily.” – Zig Ziglar
“The feelings we accept and enjoy rarely interfere with trading.” – Ed Seykota
“Our work is not so much to treat or to cure feelings, as to accept and celebrate them. This is a critical difference.” – Ed Seykota
“Successful traders spend as much time studying themselves and their trading as studying markets. In the patterns of your best and worst trades is the information that can make you the best trader you can be.” – Brett Steenbarger PH.D.
“Lesser traders become mired in discouragement and frustration, spinning their wheels by venting (or acting out) their emotions or by avoiding trading altogether. I find that a competitive spirit is a key part of this resilience: the successful trader uses this drive to draw upon motivation during slumps.” – Brett Steenbarger PH.D.
“If you personalize losses, you can’t trade.” – Bruce Kovner
“The way you communicate with yourself strengthens the song that keeps playing in your head, and that song becomes the anthem of your identity. Your goal is to produce a melody with a message that represents the best version of yourself. Your psychology becomes your biology.” – Mark Minervini
“You can be free. You can live and work anywhere in the world. And you can be independent from routine and not answer to anybody.” -Alexander Elder
“A trader must reach a point of no return. It’s a point beyond which they’ve invested so much financially, emotionally, personally that quitting isn’t an option anymore. I feel this point has to be reached before the real learning begins and progress starts to accelerate.” – Yvan Byeajee
“If you diversify, control your risk, and go with the trend, it just has to work.” – Larry Hite
If you’re interested in trading the markets you can check out my best selling trading books on Amazon here. I have also created trading eCourses on my NewTraderUniversity.com website here. My educational resources can save you both time and money in your trading journey.